81,872 Shares in Rush Street Interactive, Inc. (NYSE:RSI) Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp acquired a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 81,872 shares of the company's stock, valued at approximately $1,123,000.

A number of other institutional investors also recently made changes to their positions in the business. R Squared Ltd acquired a new stake in shares of Rush Street Interactive during the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive in the fourth quarter worth approximately $34,000. WealthTrak Capital Management LLC purchased a new stake in Rush Street Interactive in the 4th quarter worth about $71,000. Lazard Asset Management LLC acquired a new stake in Rush Street Interactive during the 4th quarter worth about $95,000. Finally, NewEdge Advisors LLC purchased a new position in Rush Street Interactive during the 4th quarter valued at about $148,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Rush Street Interactive Price Performance

NYSE:RSI traded up $0.01 during trading hours on Wednesday, reaching $12.60. The company's stock had a trading volume of 1,026,916 shares, compared to its average volume of 1,823,454. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -630.00 and a beta of 1.85. Rush Street Interactive, Inc. has a one year low of $8.52 and a one year high of $16.78. The business's 50-day moving average is $11.78 and its 200-day moving average is $12.84.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. The company had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. During the same quarter in the prior year, the company posted $0.03 EPS. The firm's revenue was up 20.7% on a year-over-year basis. On average, sell-side analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Insider Activity

In other Rush Street Interactive news, insider Einar Roosileht sold 60,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $10.69, for a total value of $641,400.00. Following the sale, the insider now owns 956,150 shares of the company's stock, valued at $10,221,243.50. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kyle Sauers sold 28,381 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $10.70, for a total value of $303,676.70. Following the transaction, the chief financial officer now owns 470,323 shares of the company's stock, valued at approximately $5,032,456.10. This trade represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 723,805 shares of company stock valued at $8,032,309. 56.94% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RSI shares. Benchmark increased their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Needham & Company LLC reiterated a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Wall Street Zen lowered Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a report on Sunday. Finally, Macquarie reissued an "outperform" rating and set a $16.00 price objective on shares of Rush Street Interactive in a research report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.