Man Group plc Increases Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Man Group plc boosted its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 217.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,711 shares of the company's stock after acquiring an additional 48,436 shares during the quarter. Man Group plc's holdings in Rush Street Interactive were worth $970,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RSI. R Squared Ltd bought a new stake in shares of Rush Street Interactive in the 4th quarter valued at $28,000. Heck Capital Advisors LLC bought a new stake in shares of Rush Street Interactive in the 4th quarter valued at $34,000. WealthTrak Capital Management LLC bought a new stake in shares of Rush Street Interactive in the 4th quarter valued at $71,000. Lazard Asset Management LLC bought a new stake in shares of Rush Street Interactive in the 4th quarter valued at $95,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Rush Street Interactive in the 4th quarter valued at $148,000. 24.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

RSI has been the topic of a number of analyst reports. Benchmark upped their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Wall Street Zen raised shares of Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Macquarie reissued an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. Susquehanna increased their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC reissued a "buy" rating and set a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $15.63.

Rush Street Interactive Trading Up 1.6%

NYSE RSI traded up $0.21 on Thursday, hitting $12.70. 283,810 shares of the company were exchanged, compared to its average volume of 1,770,974. The company has a market cap of $2.91 billion, a PE ratio of -635.25 and a beta of 1.88. Rush Street Interactive, Inc. has a 12 month low of $8.52 and a 12 month high of $16.78. The stock has a fifty day moving average of $11.62 and a 200-day moving average of $12.80.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $262.41 million for the quarter, compared to the consensus estimate of $258.90 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The business's revenue was up 20.7% on a year-over-year basis. On average, analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Insiders Place Their Bets

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the company's 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. This represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 109,567 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the completion of the sale, the chief executive officer now owns 2,082,376 shares of the company's stock, valued at approximately $20,511,403.60. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 723,805 shares of company stock worth $7,957,809. Insiders own 56.94% of the company's stock.

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.