Nicholas Investment Partners LP Purchases New Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Nicholas Investment Partners LP bought a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,091,091 shares of the company's stock, valued at approximately $14,970,000. Rush Street Interactive makes up approximately 1.3% of Nicholas Investment Partners LP's portfolio, making the stock its 10th largest holding. Nicholas Investment Partners LP owned 0.48% of Rush Street Interactive as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased its stake in Rush Street Interactive by 178.6% during the third quarter. Barclays PLC now owns 192,628 shares of the company's stock worth $2,090,000 after acquiring an additional 123,486 shares during the last quarter. Franklin Resources Inc. purchased a new position in Rush Street Interactive in the 3rd quarter valued at approximately $901,000. JPMorgan Chase & Co. lifted its position in shares of Rush Street Interactive by 155.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 265,412 shares of the company's stock worth $2,880,000 after purchasing an additional 161,568 shares during the last quarter. SG Americas Securities LLC increased its stake in Rush Street Interactive by 29.9% in the fourth quarter. SG Americas Securities LLC now owns 56,842 shares of the company's stock valued at $780,000 after purchasing an additional 13,095 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Rush Street Interactive by 0.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company's stock valued at $3,572,000 after purchasing an additional 1,087 shares in the last quarter. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RSI has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Susquehanna upped their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a report on Thursday, May 1st. Benchmark raised their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Needham & Company LLC reissued a "buy" rating and issued a $17.00 price target on shares of Rush Street Interactive in a report on Thursday, May 1st. Finally, Macquarie reissued an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.63.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 109,567 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.85, for a total value of $1,079,234.95. Following the transaction, the chief executive officer now directly owns 2,082,376 shares of the company's stock, valued at approximately $20,511,403.60. This trade represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kyle Sauers sold 28,381 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $10.70, for a total transaction of $303,676.70. Following the transaction, the chief financial officer now directly owns 470,323 shares in the company, valued at $5,032,456.10. The trade was a 5.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 723,805 shares of company stock valued at $7,957,809. Corporate insiders own 56.94% of the company's stock.

Rush Street Interactive Stock Up 0.9%

Shares of RSI traded up $0.11 during mid-day trading on Monday, hitting $12.38. 167,080 shares of the company's stock were exchanged, compared to its average volume of 1,877,688. Rush Street Interactive, Inc. has a 52 week low of $8.29 and a 52 week high of $16.78. The stock's 50-day simple moving average is $11.40 and its 200-day simple moving average is $12.76. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -614.80 and a beta of 1.88.

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

Rush Street Interactive 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.