Bayesian Capital Management LP Trims Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Bayesian Capital Management LP decreased its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 8.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,600 shares of the company’s stock after selling 2,700 shares during the quarter. Bayesian Capital Management LP’s holdings in Rush Street Interactive were worth $379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Exchange Traded Concepts LLC grew its holdings 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 purchasing an additional 1,087 shares during the period. R Squared Ltd purchased a new stake in shares of Rush Street Interactive during the 4th quarter valued at $28,000. Arizona State Retirement System grew its stake in shares of Rush Street Interactive by 11.0% during the 4th quarter. Arizona State Retirement System now owns 22,913 shares of the company’s stock valued at $314,000 after buying an additional 2,265 shares during the period. Rhumbline Advisers increased its holdings in shares of Rush Street Interactive by 2.4% during the 4th quarter. Rhumbline Advisers now owns 103,426 shares of the company’s stock worth $1,419,000 after buying an additional 2,457 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter worth $34,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Jefferies Financial Group boosted their price target on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Needham & Company LLC reiterated a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, May 1st. Susquehanna raised their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “positive” rating in a report on Thursday, May 1st. Wells Fargo & Company boosted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Macquarie reissued an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.63.

Rush Street Interactive Stock Up 2.2 %

RSI opened at $11.75 on Thursday. The firm’s 50 day moving average is $11.22 and its 200-day moving average is $12.66. Rush Street Interactive, Inc. has a 52-week low of $8.24 and a 52-week high of $16.78. The firm has a market capitalization of $2.68 billion, a P/E ratio of -587.50 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $262.41 million for the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. Equities analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 133,905 shares of Rush Street Interactive stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $14.22, for a total transaction of $1,904,129.10. Following the sale, the chief executive officer now directly owns 2,251,943 shares in the company, valued at $32,022,629.46. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mattias Stetz sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.73, for a total value of $293,250.00. Following the completion of the transaction, the chief operating officer now directly owns 531,089 shares in the company, valued at approximately $6,229,673.97. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 750,225 shares of company stock valued at $8,587,086. 56.89% of the stock is currently owned by insiders.

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.