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

Cubist Systematic Strategies LLC boosted its holdings in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 450.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Legato Capital Management LLC bought a new position in Rush Street Interactive in the fourth quarter worth about $1,897,000. Oppenheimer & Co. Inc. bought a new position in Rush Street Interactive in the fourth quarter worth about $337,000. Charles Schwab Investment Management Inc. raised its stake in Rush Street Interactive by 18.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 879,563 shares of the company's stock worth $12,068,000 after buying an additional 137,701 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Rush Street Interactive by 155.6% in the third quarter. JPMorgan Chase & Co. now owns 265,412 shares of the company's stock worth $2,880,000 after buying an additional 161,568 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Rush Street Interactive in the fourth quarter worth about $1,282,000. 24.78% of the stock is owned by institutional investors.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI traded up $0.15 during trading on Friday, reaching $12.29. 226,784 shares of the stock traded hands, compared to its average volume of 1,874,914. The stock has a 50-day moving average of $11.36 and a two-hundred day moving average of $12.72. Rush Street Interactive, Inc. has a 52-week low of $8.29 and a 52-week high of $16.78. The stock has a market cap of $2.80 billion, a P/E ratio of -615.25 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its 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. The business had revenue of $262.41 million during the quarter, compared to analyst estimates of $258.90 million. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The company's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. Sell-side analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 3,777 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 421,051 shares in the company, valued at approximately $5,086,296.08. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Einar Roosileht sold 70,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.67, for a total transaction of $816,900.00. Following the completion of the transaction, the insider now owns 946,150 shares in the company, valued at $11,041,570.50. The trade was a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 723,805 shares of company stock valued at $7,957,809. 56.94% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Rush Street Interactive Company 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.