Emerald Mutual Fund Advisers Trust Buys New Position in Rush Street Interactive, Inc. (NYSE:RSI)

Emerald Mutual Fund Advisers Trust 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 filing with the SEC. The firm purchased 348,043 shares of the company's stock, valued at approximately $4,775,000. Emerald Mutual Fund Advisers Trust owned approximately 0.15% of Rush Street Interactive as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RSI. Legato Capital Management LLC acquired a new stake in shares of Rush Street Interactive during the 4th quarter valued at approximately $1,897,000. Oppenheimer & Co. Inc. acquired a new stake in Rush Street Interactive in the fourth quarter valued at $337,000. Charles Schwab Investment Management Inc. increased its position in shares of 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 valued at $12,068,000 after buying an additional 137,701 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 buying an additional 161,568 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Rush Street Interactive by 656.2% in the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company's stock worth $843,000 after buying an additional 67,388 shares in the last quarter. Institutional investors and hedge funds own 24.78% of the company's stock.

Insider Activity at Rush Street Interactive

In other news, insider Einar Roosileht sold 70,000 shares of Rush Street Interactive stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $14.41, for a total value of $1,008,700.00. Following the transaction, the insider now owns 946,150 shares of the company's stock, valued at $13,634,021.50. The trade was a 6.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Mattias Stetz sold 3,777 shares of the 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 owns 421,051 shares of the company's stock, valued at $5,086,296.08. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 750,758 shares of company stock worth $8,865,603 over the last quarter. 56.89% of the stock is currently owned by company insiders.

Rush Street Interactive Trading Up 2.0 %

NYSE:RSI traded up $0.23 during mid-day trading on Friday, hitting $11.68. The stock had a trading volume of 1,459,850 shares, compared to its average volume of 1,897,403. The company has a 50 day simple moving average of $11.27 and a 200-day simple moving average of $12.65. Rush Street Interactive, Inc. has a 52 week low of $7.52 and a 52 week high of $16.78. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -584.00 and a beta of 1.90.

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 the consensus estimate of $0.08 by $0.01. The firm had revenue of $262.41 million for the quarter, compared to the consensus estimate of $258.90 million. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. As a group, equities research analysts anticipate that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RSI. Macquarie restated an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research report on Friday. Jefferies Financial Group lifted their price objective 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. Wells Fargo & Company upped 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. Susquehanna increased their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday. 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, the stock has an average rating of "Moderate Buy" and an average price target of $15.63.

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.