Caxton Associates LP Acquires New Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

Caxton Associates LP purchased a new stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 81,906 shares of the company's stock, valued at approximately $1,124,000.

A number of other institutional investors also recently made changes to their positions in RSI. R Squared Ltd bought a new stake in shares of Rush Street Interactive in the fourth quarter worth $28,000. Heck Capital Advisors LLC bought a new stake in shares of Rush Street Interactive in the 4th quarter valued at approximately $34,000. WealthTrak Capital Management LLC acquired a new stake in shares of Rush Street Interactive during the 4th quarter valued at approximately $71,000. NewEdge Advisors LLC acquired a new stake in shares of Rush Street Interactive during the fourth quarter worth $148,000. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Rush Street Interactive in the 4th quarter valued at about $167,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Richard Todd Schwartz sold 133,905 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $14.22, for a total value of $1,904,129.10. Following the completion of the transaction, the chief executive officer now owns 2,251,943 shares of the company's stock, valued at approximately $32,022,629.46. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Mattias Stetz sold 25,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $11.73, for a total value of $293,250.00. Following the transaction, the chief operating officer now directly owns 531,089 shares in the company, valued at $6,229,673.97. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 857,710 shares of company stock valued at $9,861,938 over the last three months. Insiders own 56.94% of the company's stock.

Rush Street Interactive Stock Performance

Shares of RSI stock traded down $0.02 during mid-day trading on Friday, hitting $11.76. 909,523 shares of the stock traded hands, compared to its average volume of 1,883,938. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -588.00 and a beta of 1.88. The company's 50-day simple moving average is $11.24 and its 200-day simple moving average is $12.69. Rush Street Interactive, Inc. has a twelve month low of $8.29 and a twelve month high of $16.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share 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 company had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. During the same period in the prior year, the company earned $0.03 EPS. Rush Street Interactive's revenue was up 20.7% on a year-over-year basis. Analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Analyst Ratings Changes

RSI has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Jefferies Financial Group increased their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Needham & Company LLC restated a "buy" rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, May 1st. Susquehanna lifted 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 report on Thursday, May 1st. Finally, Macquarie restated an "outperform" rating and issued a $16.00 price target on shares of Rush Street Interactive in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $15.63.

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.