1060 Capital LLC Has $6.86 Million Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

1060 Capital LLC reduced its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 50.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 500,000 shares of the company's stock after selling 500,000 shares during the quarter. Rush Street Interactive comprises 13.6% of 1060 Capital LLC's portfolio, making the stock its 3rd biggest position. 1060 Capital LLC owned 0.22% of Rush Street Interactive worth $6,860,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RSI. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rush Street Interactive by 7,958.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock valued at $27,843,000 after buying an additional 2,004,059 shares during the period. Topline Capital Management LLC acquired a new stake in shares of Rush Street Interactive in the 4th quarter valued at about $24,851,000. William Blair Investment Management LLC bought a new stake in shares of Rush Street Interactive in the fourth quarter valued at about $21,635,000. Vanguard Group Inc. boosted its position in shares of Rush Street Interactive by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock worth $117,943,000 after buying an additional 1,056,583 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Rush Street Interactive by 62.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company's stock worth $36,540,000 after buying an additional 1,018,889 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RSI has been the topic of a number of recent research reports. Benchmark lifted their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 28th. Wells Fargo & Company increased their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. JMP Securities restated a "market perform" rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Susquehanna raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research note on Thursday. Finally, Needham & Company LLC reissued a "buy" rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Rush Street Interactive presently has a consensus rating of "Moderate Buy" and an average price target of $15.63.

Insiders Place Their Bets

In other news, CEO Richard Todd Schwartz sold 109,567 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.85, for a total value of $1,079,234.95. Following the completion of the sale, the chief executive officer now owns 2,082,376 shares of the company's stock, valued at approximately $20,511,403.60. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Mattias Stetz sold 24,467 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $11.57, for a total transaction of $283,083.19. Following the completion of the transaction, the chief operating officer now owns 396,584 shares in the company, valued at $4,588,476.88. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 750,225 shares of company stock valued at $8,587,086 in the last 90 days. Corporate insiders own 56.89% of the company's stock.

Rush Street Interactive Stock Performance

Shares of NYSE RSI traded up $0.21 during midday trading on Monday, reaching $11.86. The company's stock had a trading volume of 1,674,316 shares, compared to its average volume of 1,886,844. The company has a market cap of $2.70 billion, a P/E ratio of -593.00 and a beta of 1.88. The business's 50 day moving average price is $11.24 and its two-hundred day moving average price is $12.67. Rush Street Interactive, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $16.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $262.41 million during the quarter, compared to analysts' expectations of $258.90 million. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The business's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 EPS. Sell-side analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal 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.