Balyasny Asset Management L.P. Sells 248,443 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Balyasny Asset Management L.P. cut its position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 60.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,755 shares of the company's stock after selling 248,443 shares during the period. Balyasny Asset Management L.P. owned 0.07% of Rush Street Interactive worth $2,206,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several brokerages have commented on RSI. Needham & Company LLC reissued a "buy" rating and set a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, May 1st. Macquarie reissued an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research note on Friday, May 2nd. Wells Fargo & Company increased their price objective 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. Benchmark increased their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Susquehanna increased their price objective 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, May 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.63.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 3,777 shares of Rush Street Interactive stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $12.08, for a total value of $45,626.16. Following the sale, the chief operating officer now directly owns 421,051 shares in the company, valued at approximately $5,086,296.08. The trade was a 0.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Einar Roosileht sold 70,000 shares of Rush Street Interactive stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $11.67, for a total transaction of $816,900.00. Following the completion of the sale, the insider now owns 946,150 shares in the company, valued at approximately $11,041,570.50. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 723,805 shares of company stock valued at $7,957,809 over the last 90 days. Corporate insiders own 56.94% of the company's stock.

Rush Street Interactive Price Performance

NYSE RSI traded up $0.13 during trading on Friday, hitting $12.27. 710,992 shares of the company's stock traded hands, compared to its average volume of 1,884,411. The stock has a fifty day moving average of $11.40 and a two-hundred day moving average of $12.76. Rush Street Interactive, Inc. has a 12-month low of $8.29 and a 12-month high of $16.78. The firm has a market cap of $2.80 billion, a P/E 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 EPS for the quarter, topping 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 analyst estimates of $258.90 million. During the same period last year, the business posted $0.03 earnings per share. Rush Street Interactive's quarterly revenue was up 20.7% compared to the same quarter last year. As a group, analysts expect 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.