Occudo Quantitative Strategies LP Sells 30,113 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Occudo Quantitative Strategies LP reduced its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 73.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,069 shares of the company's stock after selling 30,113 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Rush Street Interactive were worth $152,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RSI. Susquehanna boosted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research note on Thursday, May 1st. Macquarie restated an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a research note on Friday, May 2nd. Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $17.00 price target on shares of Rush Street Interactive in a research note on Thursday, May 1st. Finally, Benchmark raised 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 note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.63.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 25,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $11.73, for a total transaction of $293,250.00. Following the sale, the chief operating officer now owns 531,089 shares of the company's stock, valued at $6,229,673.97. The trade was a 4.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard Todd Schwartz sold 106,952 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $11.86, for a total transaction of $1,268,450.72. Following the completion of the transaction, the chief executive officer now directly owns 1,492,234 shares in the company, valued at approximately $17,697,895.24. The trade was a 6.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 723,805 shares of company stock valued at $7,957,809 in the last 90 days. 56.94% of the stock is currently owned by company insiders.

Rush Street Interactive Stock Performance

RSI stock traded up $0.07 during midday trading on Friday, reaching $11.85. 614,199 shares of the company's stock traded hands, compared to its average volume of 1,855,330. The company has a 50-day moving average price of $11.55 and a two-hundred day moving average price of $12.78. Rush Street Interactive, Inc. has a 52 week low of $8.52 and a 52 week high of $16.78. The firm has a market capitalization of $2.71 billion, a PE ratio of -592.25 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating 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 business 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 firm posted $0.03 EPS. The business's revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

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.