Balyasny Asset Management L.P. Reduces Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Balyasny Asset Management L.P. trimmed its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 60.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,755 shares of the company's stock after selling 248,443 shares during the quarter. Balyasny Asset Management L.P. owned 0.07% of Rush Street Interactive worth $2,206,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RSI. Barclays PLC boosted its position in shares of Rush Street Interactive by 178.6% in the third quarter. Barclays PLC now owns 192,628 shares of the company's stock valued at $2,090,000 after acquiring an additional 123,486 shares during the period. Franklin Resources Inc. acquired a new position in shares of Rush Street Interactive during the 3rd quarter worth approximately $901,000. JPMorgan Chase & Co. grew 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 in the last quarter. Harbour Capital Advisors LLC bought a new position in shares of Rush Street Interactive during the fourth quarter worth approximately $822,000. Finally, SG Americas Securities LLC raised its position in shares of 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 buying an additional 13,095 shares in the last quarter. Institutional investors own 24.78% of the company's stock.

Insider Transactions at Rush Street Interactive

In related news, insider Einar Roosileht sold 70,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.67, for a total transaction of $816,900.00. Following the transaction, the insider now directly owns 946,150 shares of the company's stock, valued at $11,041,570.50. This trade represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mattias Stetz sold 3,777 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $12.08, for a total value of $45,626.16. Following the completion of the transaction, the chief operating officer now owns 421,051 shares in the company, valued at $5,086,296.08. The trade was a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 723,805 shares of company stock valued at $7,957,809 over the last ninety days. 56.94% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Rush Street Interactive Stock Up 1.1%

RSI traded up $0.13 during midday trading on Friday, hitting $12.27. The company had a trading volume of 710,992 shares, compared to its average volume of 1,876,759. The stock's 50 day moving average price is $11.36 and its 200 day moving average price is $12.72. Rush Street Interactive, Inc. has a 52 week low of $8.29 and a 52 week high of $16.78. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -613.70 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $262.41 million during the quarter, compared to analysts' expectations of $258.90 million. During the same period last year, the company earned $0.03 earnings per share. The business's revenue was up 20.7% on a year-over-year basis. 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.