PharVision Advisers LLC Takes Position in Rush Street Interactive, Inc. (NYSE:RSI)

PharVision Advisers LLC purchased a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 29,124 shares of the company's stock, valued at approximately $400,000.

Several other hedge funds have also recently added to or reduced their stakes in RSI. Price T Rowe Associates Inc. MD grew its holdings in shares of Rush Street Interactive by 7,958.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock worth $27,843,000 after buying an additional 2,004,059 shares in the last quarter. Topline Capital Management LLC purchased a new position in shares of Rush Street Interactive in the fourth quarter worth about $24,851,000. William Blair Investment Management LLC acquired a new position in Rush Street Interactive during the fourth quarter worth about $21,635,000. Nicholas Investment Partners LP acquired a new position in Rush Street Interactive during the fourth quarter worth about $14,970,000. Finally, Vanguard Group Inc. grew its stake in Rush Street Interactive by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock valued at $117,943,000 after acquiring an additional 1,056,583 shares in the last quarter. 24.78% of the stock is owned by institutional investors and hedge funds.

Rush Street Interactive Stock Down 2.7%

Shares of RSI stock opened at $12.17 on Wednesday. The firm has a 50 day moving average of $11.49 and a two-hundred day moving average of $12.77. The stock has a market capitalization of $2.79 billion, a PE ratio of -608.50 and a beta of 1.88. Rush Street Interactive, Inc. has a 52 week low of $8.29 and a 52 week high of $16.78.

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

Insider Transactions at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 193,905 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $10.63, for a total transaction of $2,061,210.15. Following the completion of the sale, the chief executive officer now owns 1,599,186 shares in the company, valued at $16,999,347.18. The trade was a 10.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Einar Roosileht sold 70,000 shares of the firm's 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 sale, the insider now directly owns 946,150 shares in the company, valued at approximately $11,041,570.50. The trade was a 6.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 723,805 shares of company stock valued at $7,957,809. Insiders own 56.94% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RSI. Susquehanna boosted their target price on 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 boosted their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Benchmark upped their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, May 1st. Finally, Macquarie reiterated an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $15.63.

Rush Street Interactive 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.

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