Rush Street Interactive, Inc. (NYSE:RSI) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 28.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,600 shares of the company's stock after selling 28,464 shares during the quarter. Point72 Asset Management L.P.'s holdings in Rush Street Interactive were worth $996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RSI. R Squared Ltd acquired a new position in Rush Street Interactive in the fourth quarter valued at $28,000. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter valued at $34,000. WealthTrak Capital Management LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter valued at $71,000. Lazard Asset Management LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter valued at $95,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter valued at $148,000. Institutional investors and hedge funds own 24.78% of the company's stock.

Analysts Set New Price Targets

RSI has been the topic of a number of research reports. Benchmark raised their target price 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. Macquarie reissued an "outperform" rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. Susquehanna raised 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. Needham & Company LLC reissued 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, Wells Fargo & Company raised their target price 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. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.63.

Rush Street Interactive Price Performance

Rush Street Interactive stock opened at $11.63 on Thursday. Rush Street Interactive, Inc. has a 12-month low of $8.29 and a 12-month high of $16.78. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -581.25 and a beta of 1.88. The firm's fifty day moving average price is $11.51 and its 200 day moving average price is $12.76.

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 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 previous year, the firm posted $0.03 EPS. The firm's quarterly revenue was up 20.7% on a year-over-year basis. Analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the firm'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 completion of the transaction, the insider now directly owns 946,150 shares of the company's stock, valued at $11,041,570.50. This trade represents a 6.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Todd Schwartz sold 109,567 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the transaction, the chief executive officer now directly 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 ownership of the stock. 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 quarter. Company 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.

Want to see what other hedge funds are holding RSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rush Street Interactive, Inc. (NYSE:RSI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.