Two Sigma Advisers LP Buys 62,200 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Two Sigma Advisers LP boosted its position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 545.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,600 shares of the company's stock after purchasing an additional 62,200 shares during the period. Two Sigma Advisers LP's holdings in Rush Street Interactive were worth $1,010,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in Rush Street Interactive by 6.3% in the 4th quarter. Tidal Investments LLC now owns 38,360 shares of the company's stock valued at $526,000 after acquiring an additional 2,280 shares in the last quarter. ProShare Advisors LLC increased its position in Rush Street Interactive by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 21,410 shares of the company's stock valued at $294,000 after acquiring an additional 7,043 shares in the last quarter. Prospect Capital Advisors LLC acquired a new stake in Rush Street Interactive in the 4th quarter valued at about $1,428,000. Man Group plc increased its position in Rush Street Interactive by 217.4% in the 4th quarter. Man Group plc now owns 70,711 shares of the company's stock valued at $970,000 after acquiring an additional 48,436 shares in the last quarter. Finally, Nicholas Investment Partners LP acquired a new stake in Rush Street Interactive in the 4th quarter valued at about $14,970,000. 24.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Needham & Company LLC restated a "buy" rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday, May 1st. Susquehanna boosted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a report on Thursday, May 1st. Wells Fargo & Company lifted their price target 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. Wall Street Zen lowered shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, Macquarie reissued an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.63.

Rush Street Interactive Price Performance

NYSE RSI traded up $0.17 on Thursday, hitting $12.78. 918,183 shares of the stock were exchanged, compared to its average volume of 1,821,370. The business's fifty day moving average is $11.82 and its 200 day moving average is $12.85. Rush Street Interactive, Inc. has a 52 week low of $8.52 and a 52 week high of $16.78. The company has a market capitalization of $2.93 billion, a PE ratio of -639.15 and a beta of 1.85.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted 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 analyst estimates of $258.90 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The company's quarterly revenue was up 20.7% compared to the same quarter last year. Analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In related news, insider Einar Roosileht sold 60,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $10.69, for a total value of $641,400.00. Following the transaction, the insider now directly owns 956,150 shares in the company, valued at approximately $10,221,243.50. This represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard Todd Schwartz sold 109,567 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,082,376 shares of the company's stock, valued at $20,511,403.60. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 723,805 shares of company stock worth $8,032,309 over the last ninety days. 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.