Divisadero Street Capital Management LP Sells 1,738,372 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Divisadero Street Capital Management LP cut its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 26.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,766,612 shares of the company's stock after selling 1,738,372 shares during the quarter. Rush Street Interactive makes up approximately 7.6% of Divisadero Street Capital Management LP's holdings, making the stock its 2nd largest holding. Divisadero Street Capital Management LP owned about 2.11% of Rush Street Interactive worth $65,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RSI. Vanguard Group Inc. boosted its holdings in Rush Street Interactive by 14.0% in the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock worth $117,943,000 after purchasing an additional 1,056,583 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Rush Street Interactive by 62.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company's stock valued at $36,540,000 after buying an additional 1,018,889 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock valued at $27,843,000 after buying an additional 2,004,059 shares during the last quarter. Renaissance Technologies LLC raised its stake in Rush Street Interactive by 43.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,962,400 shares of the company's stock worth $26,924,000 after acquiring an additional 598,300 shares during the period. Finally, Topline Capital Management LLC bought a new position in Rush Street Interactive in the fourth quarter worth about $24,851,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on RSI. Susquehanna upped their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a report on Thursday, May 1st. Macquarie restated an "outperform" rating and set a $16.00 price objective on shares of Rush Street Interactive in a research note on Friday, May 2nd. Wells Fargo & Company raised their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Jefferies Financial Group boosted their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Rush Street Interactive in a report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Rush Street Interactive presently has an average rating of "Moderate Buy" and an average price target of $15.63.

Insider Activity

In other Rush Street Interactive news, COO Mattias Stetz sold 3,777 shares of the company's stock in a transaction 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. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Einar Roosileht sold 9,300 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $12.00, for a total value of $111,600.00. Following the sale, the insider now directly owns 946,850 shares of the company's stock, valued at approximately $11,362,200. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 857,710 shares of company stock worth $9,861,938 over the last 90 days. 56.94% of the stock is currently owned by company insiders.

Rush Street Interactive Stock Down 0.2 %

Rush Street Interactive stock traded down $0.02 during trading hours on Friday, hitting $11.76. 909,523 shares of the company traded hands, compared to its average volume of 1,878,899. Rush Street Interactive, Inc. has a 1-year low of $8.29 and a 1-year high of $16.78. The firm has a market cap of $2.68 billion, a P/E ratio of -588.00 and a beta of 1.88. The firm's 50-day simple moving average is $11.24 and its two-hundred day simple moving average is $12.68.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The business's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. On average, equities research analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

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.