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

Graham Capital Management L.P. lessened its stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 36.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 90,847 shares of the company's stock after selling 51,657 shares during the quarter. Graham Capital Management L.P.'s holdings in Rush Street Interactive were worth $1,246,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in RSI. R Squared Ltd purchased a new position in shares of Rush Street Interactive in the 4th quarter valued at about $28,000. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter valued at about $34,000. WealthTrak Capital Management LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter valued at about $71,000. NewEdge Advisors LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter valued at about $148,000. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Rush Street Interactive in the 4th quarter valued at about $167,000. Hedge funds and other institutional investors own 24.78% of the company's stock.

Insider Buying and Selling at Rush Street Interactive

In other news, COO Mattias Stetz sold 3,777 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $12.08, for a total value of $45,626.16. Following the transaction, the chief operating officer now owns 421,051 shares of the company's stock, valued at approximately $5,086,296.08. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Einar Roosileht sold 70,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.67, for a total value of $816,900.00. Following the completion of the transaction, 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. Over the last quarter, insiders sold 723,805 shares of company stock worth $7,957,809. 56.94% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, May 1st. Benchmark boosted their target price 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. Susquehanna boosted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a research note on Thursday, May 1st. Macquarie restated an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. Finally, Wells Fargo & Company boosted their target price 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Rush Street Interactive currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.63.

Rush Street Interactive Stock Performance

NYSE RSI traded up $0.13 on Friday, reaching $12.27. The stock had a trading volume of 710,992 shares, compared to its average volume of 1,884,411. Rush Street Interactive, Inc. has a 12-month low of $8.29 and a 12-month high of $16.78. The business's 50-day moving average price is $11.40 and its 200 day moving average price is $12.76. The stock has a market cap of $2.80 billion, a P/E ratio of -613.70 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $262.41 million during the quarter, compared to analysts' expectations of $258.90 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. On average, sell-side analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

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.