Rush Street Interactive, Inc. (NYSE:RSI) Shares Acquired by Gotham Asset Management LLC

Gotham Asset Management LLC increased 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 purchasing an additional 52,290 shares during the quarter. Gotham Asset Management LLC owned approximately 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 recently modified their holdings of the stock. R Squared Ltd purchased a new stake in Rush Street Interactive in the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new position in Rush Street Interactive during the 4th quarter worth $34,000. WealthTrak Capital Management LLC acquired a new position in Rush Street Interactive in the fourth quarter valued at $71,000. NewEdge Advisors LLC purchased a new stake in shares of Rush Street Interactive in the fourth quarter valued at about $148,000. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of Rush Street Interactive during the fourth quarter worth about $167,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, CEO Richard Todd Schwartz sold 106,952 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $11.86, for a total transaction of $1,268,450.72. Following the sale, the chief executive officer now owns 1,492,234 shares in the company, valued at approximately $17,697,895.24. This trade represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kyle Sauers sold 28,381 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $10.70, for a total value of $303,676.70. Following the transaction, the chief financial officer now directly owns 470,323 shares in the company, valued at approximately $5,032,456.10. This represents a 5.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 723,805 shares of company stock valued at $7,957,809. Corporate insiders own 56.94% of the company's stock.

Rush Street Interactive Trading Down 1.5%

Shares of NYSE:RSI traded down $0.19 during midday trading on Tuesday, hitting $12.33. 151,827 shares of the stock were exchanged, compared to its average volume of 1,823,818. Rush Street Interactive, Inc. has a twelve month low of $8.29 and a twelve month high of $16.78. The company has a 50 day moving average price of $11.44 and a 200-day moving average price of $12.77. The stock has a market cap of $2.82 billion, a P/E ratio of -616.40 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating 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 business 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 business earned $0.03 earnings per share. The company's quarterly revenue was up 20.7% on a year-over-year basis. On average, equities research analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

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.