Cubist Systematic Strategies LLC Buys 189,107 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Cubist Systematic Strategies LLC raised its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 450.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 231,084 shares of the company's stock after purchasing an additional 189,107 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.10% of Rush Street Interactive worth $3,170,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RSI. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 1,056,583 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted 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 buying an additional 1,018,889 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 worth $27,843,000 after buying an additional 2,004,059 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Rush Street Interactive by 43.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,962,400 shares of the company's stock valued at $26,924,000 after acquiring an additional 598,300 shares in the last quarter. Finally, Topline Capital Management LLC bought a new position in shares of Rush Street Interactive in the fourth quarter valued at approximately $24,851,000. Institutional investors and hedge funds own 24.78% of the company's stock.

Rush Street Interactive Price Performance

NYSE:RSI traded up $0.19 during mid-day trading on Tuesday, hitting $12.15. 1,584,868 shares of the company's stock were exchanged, compared to its average volume of 1,882,832. Rush Street Interactive, Inc. has a one year low of $8.29 and a one year high of $16.78. The business has a fifty day moving average price of $11.27 and a 200 day moving average price of $12.71. The company has a market cap of $2.77 billion, a PE ratio of -607.50 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $258.90 million. During the same quarter in the previous year, the business posted $0.03 EPS. Rush Street Interactive's revenue was up 20.7% compared to the same quarter last year. On average, equities analysts forecast that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction, the insider now owns 946,150 shares in the company, valued at approximately $11,041,570.50. The trade was a 6.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mattias Stetz sold 3,777 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were 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 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. Company insiders own 56.94% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on RSI. Benchmark raised their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Jefferies Financial Group raised their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Needham & Company LLC reiterated a "buy" rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research note on Thursday, May 1st. Macquarie reissued an "outperform" rating and set a $16.00 price objective on shares of Rush Street Interactive in a report on Friday, May 2nd. Finally, Wells Fargo & Company boosted 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.