Emerald Mutual Fund Advisers Trust Buys 395,146 Shares of Rush Street Interactive, Inc. $RSI

Emerald Mutual Fund Advisers Trust increased its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 113.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 743,189 shares of the company’s stock after purchasing an additional 395,146 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Rush Street Interactive were worth $11,074,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Arizona State Retirement System increased its position in shares of Rush Street Interactive by 5.4% during the 1st quarter. Arizona State Retirement System now owns 24,145 shares of the company’s stock valued at $259,000 after purchasing an additional 1,232 shares during the last quarter. Pacer Advisors Inc. grew its position in Rush Street Interactive by 94.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock valued at $27,000 after acquiring an additional 1,232 shares during the last quarter. Teacher Retirement System of Texas grew its position in Rush Street Interactive by 11.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,615 shares of the company’s stock valued at $203,000 after acquiring an additional 1,358 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Rush Street Interactive by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,163 shares of the company’s stock valued at $484,000 after acquiring an additional 1,893 shares during the last quarter. Finally, Farther Finance Advisors LLC bought a new position in Rush Street Interactive in the 2nd quarter valued at $42,000. Institutional investors own 24.78% of the company’s stock.

Insider Transactions at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 136,738 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $20.88, for a total transaction of $2,855,089.44. Following the transaction, the chief executive officer owned 880,733 shares of the company’s stock, valued at approximately $18,389,705.04. This represents a 13.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Judith Gold sold 100,000 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $19.61, for a total value of $1,961,000.00. Following the transaction, the director directly owned 111,629 shares in the company, valued at $2,189,044.69. The trade was a 47.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,031,753 shares of company stock valued at $20,279,463. 56.94% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Benchmark upped their price objective on Rush Street Interactive from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Zacks Research downgraded Rush Street Interactive from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Needham & Company LLC upped their price objective on Rush Street Interactive from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Rush Street Interactive in a research report on Monday, October 13th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $19.00 price objective (up previously from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Rush Street Interactive currently has an average rating of “Moderate Buy” and a consensus price target of $19.78.

Rush Street Interactive Trading Down 3.0%

RSI opened at $18.13 on Thursday. Rush Street Interactive, Inc. has a 12-month low of $9.54 and a 12-month high of $22.65. The business’s fifty day simple moving average is $20.42 and its 200-day simple moving average is $16.43. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 90.66 and a beta of 1.87.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%.The business had revenue of $269.22 million for the quarter, compared to the consensus estimate of $248.98 million. During the same quarter in the prior year, the company earned $0.04 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

About Rush Street Interactive

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.