Graham Capital Management L.P. Reduces Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Graham Capital Management L.P. cut its stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 36.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 SEC filing.

Other hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC boosted its position in Rush Street Interactive by 0.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company's stock valued at $3,572,000 after buying an additional 1,087 shares in the last quarter. R Squared Ltd acquired a new position in shares of Rush Street Interactive during the fourth quarter worth $28,000. Arizona State Retirement System raised its stake in Rush Street Interactive by 11.0% during the fourth quarter. Arizona State Retirement System now owns 22,913 shares of the company's stock worth $314,000 after buying an additional 2,265 shares during the last quarter. Rhumbline Advisers lifted its stake in Rush Street Interactive by 2.4% in the fourth quarter. Rhumbline Advisers now owns 103,426 shares of the company's stock valued at $1,419,000 after buying an additional 2,457 shares during the period. Finally, Heck Capital Advisors LLC acquired a new position in shares of Rush Street Interactive during the 4th quarter valued at $34,000. 24.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Susquehanna raised their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 price target on shares of Rush Street Interactive in a research note on Thursday, May 1st. Benchmark lifted their price target 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. Finally, Macquarie reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Rush Street Interactive in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Rush Street Interactive presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.63.

Rush Street Interactive Price Performance

Shares of NYSE:RSI traded up $0.13 during midday trading on Friday, hitting $12.27. 710,992 shares of the company's stock were exchanged, compared to its average volume of 1,876,793. The stock has a 50 day moving average price of $11.36 and a 200-day moving average price of $12.72. The company has a market cap of $2.80 billion, a PE ratio of -613.70 and a beta of 1.88. Rush Street Interactive, Inc. has a 12 month low of $8.29 and a 12 month high of $16.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The company had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. Rush Street Interactive's revenue was up 20.7% on a year-over-year basis. During the same period last year, the business posted $0.03 earnings per share. On average, analysts anticipate 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 70,000 shares of the company'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 transaction of $816,900.00. Following the sale, the insider now directly owns 946,150 shares in the company, valued at approximately $11,041,570.50. This represents a 6.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Mattias Stetz sold 3,777 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $12.08, for a total transaction of $45,626.16. Following the sale, the chief operating officer now owns 421,051 shares in the company, valued at $5,086,296.08. The trade was a 0.89% 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 worth $7,957,809 over the last three months. 56.94% of the stock is currently owned by insiders.

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.