Principal Financial Group Inc. Makes New Investment in Rush Street Interactive, Inc. (NYSE:RSI)

Principal Financial Group Inc. purchased a new stake in Rush Street Interactive, Inc. (NYSE:RSI) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 10,270 shares of the company’s stock, valued at approximately $98,000.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in Rush Street Interactive by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after buying an additional 85,736 shares during the period. Nomura Holdings Inc. increased its holdings in shares of Rush Street Interactive by 24.7% in the 4th quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock worth $18,788,000 after acquiring an additional 828,984 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Rush Street Interactive by 157.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock worth $13,666,000 after acquiring an additional 872,367 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Rush Street Interactive in the 1st quarter valued at about $1,673,000. Finally, Bank of New York Mellon Corp boosted its stake in Rush Street Interactive by 40.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 252,514 shares of the company’s stock valued at $2,422,000 after purchasing an additional 72,831 shares during the period. Institutional investors own 24.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RSI. Craig Hallum lifted their price target on Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC lifted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their price target on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Oppenheimer raised their price target on Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.17.

Insiders Place Their Bets

In other news, insider Einar Roosileht sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the completion of the transaction, the insider now owns 809,260 shares in the company, valued at approximately $7,356,173.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Einar Roosileht sold 150,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the completion of the sale, the insider now owns 809,260 shares in the company, valued at approximately $7,356,173.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Sauers sold 108,682 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.50, for a total value of $1,032,479.00. Following the sale, the chief financial officer now directly owns 441,492 shares of the company’s stock, valued at $4,194,174. The disclosure for this sale can be found here. Over the last three months, insiders have sold 548,210 shares of company stock worth $5,179,362. 56.89% of the stock is owned by corporate insiders.

Rush Street Interactive Price Performance

Shares of NYSE:RSI opened at $9.88 on Tuesday. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -58.09 and a beta of 1.78. Rush Street Interactive, Inc. has a 12 month low of $3.17 and a 12 month high of $11.59. The stock’s 50 day moving average price is $9.54 and its 200 day moving average price is $8.31.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The company had revenue of $220.38 million for the quarter, compared to the consensus estimate of $201.37 million. Rush Street Interactive had a negative return on equity of 12.45% and a negative net margin of 0.84%. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) EPS. On average, sell-side analysts expect that Rush Street Interactive, Inc. will post -0.01 EPS for the current year.

Rush Street Interactive Company Profile

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.