Prospect Capital Advisors LLC Makes New $1.43 Million Investment in Rush Street Interactive, Inc. (NYSE:RSI)

Prospect Capital Advisors LLC purchased a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 104,100 shares of the company's stock, valued at approximately $1,428,000. Rush Street Interactive comprises approximately 0.8% of Prospect Capital Advisors LLC's holdings, making the stock its 26th largest position.

A number of other large investors also recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in Rush Street Interactive in the 4th quarter valued at $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Rush Street Interactive in the 4th quarter worth about $34,000. WealthTrak Capital Management LLC bought a new stake in Rush Street Interactive during the 4th quarter valued at $71,000. Lazard Asset Management LLC bought a new stake in shares of Rush Street Interactive during the 4th quarter worth about $95,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Rush Street Interactive in the fourth quarter valued at $148,000. Hedge funds and other institutional investors own 24.78% of the company's stock.

Insider Activity at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 109,567 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were 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 owns 2,082,376 shares in the company, valued at approximately $20,511,403.60. This trade represents a 5.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Einar Roosileht sold 70,000 shares of the firm's stock in a transaction 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 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 disclosure for this sale can be found here. Insiders sold 723,805 shares of company stock worth $7,957,809 in the last ninety days. 56.94% of the stock is owned by company insiders.

Rush Street Interactive Price Performance

Shares of RSI traded down $0.24 during midday trading on Tuesday, hitting $12.28. The stock had a trading volume of 300,381 shares, compared to its average volume of 1,825,283. The company has a 50 day simple moving average of $11.44 and a two-hundred day simple moving average of $12.77. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -613.50 and a beta of 1.88. Rush Street Interactive, Inc. has a twelve month low of $8.29 and a twelve month high of $16.78.

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, 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 firm had revenue of $262.41 million for the quarter, compared to the consensus estimate of $258.90 million. During the same period in the previous year, the company earned $0.03 earnings per share. The company's quarterly revenue was up 20.7% on a year-over-year basis. Analysts forecast that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RSI. Wells Fargo & Company lifted their price target 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. Macquarie restated an "outperform" rating and issued a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. Needham & Company LLC reissued 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 raised their target price on Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Susquehanna upped 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.