Gotham Asset Management LLC Raises Stock Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

Gotham Asset Management LLC boosted its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 25.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,357 shares of the company's stock after acquiring an additional 52,290 shares during the quarter. Gotham Asset Management LLC owned about 0.12% of Rush Street Interactive worth $3,586,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. R Squared Ltd acquired a new stake in shares of Rush Street Interactive during the 4th quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter worth about $34,000. WealthTrak Capital Management LLC purchased a new stake in Rush Street Interactive during the 4th quarter worth approximately $71,000. NewEdge Advisors LLC bought a new position in Rush Street Interactive in the fourth quarter worth about $148,000. Finally, State of Tennessee Department of Treasury acquired a new position in Rush Street Interactive during the 4th quarter worth $167,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rush Street Interactive

In other news, insider Einar Roosileht sold 70,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was 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 owns 946,150 shares in the company, valued at $11,041,570.50. This trade represents a 6.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $1,268,450.72. Following the completion of the sale, the chief executive officer now owns 1,492,234 shares of the company's stock, valued at $17,697,895.24. This represents a 6.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 723,805 shares of company stock valued at $7,957,809 in the last ninety days. 56.94% of the stock is currently owned by corporate insiders.

Rush Street Interactive Stock Performance

NYSE RSI traded up $0.29 on Monday, hitting $12.56. 725,599 shares of the stock traded hands, compared to its average volume of 1,880,097. Rush Street Interactive, Inc. has a 12 month low of $8.29 and a 12 month high of $16.78. The business's fifty day moving average is $11.40 and its two-hundred day moving average is $12.76. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -628.00 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. 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 business earned $0.03 earnings per share. The company's quarterly revenue was up 20.7% on a year-over-year basis. Analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RSI. Wells Fargo & Company increased 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. 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. Benchmark increased their price target on Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Susquehanna increased their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, May 1st. Finally, Macquarie reiterated an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.63.

Rush Street Interactive Company 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.