BNP Paribas Financial Markets Buys New Position in Rush Street Interactive, Inc. (NYSE:RSI)

BNP Paribas Financial Markets bought a new stake in Rush Street Interactive, Inc. (NYSE:RSI) during the fourth quarter, HoldingsChannel.com reports. The fund bought 507,625 shares of the company’s stock, valued at approximately $6,965,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd acquired a new stake in Rush Street Interactive in the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new stake in Rush Street Interactive in the 4th quarter valued at approximately $34,000. WealthTrak Capital Management LLC acquired a new stake in Rush Street Interactive in the 4th quarter valued at approximately $71,000. NewEdge Advisors LLC acquired a new stake in Rush Street Interactive in the 4th quarter valued at approximately $148,000. Finally, State of Tennessee Department of Treasury acquired a new stake in Rush Street Interactive in the 4th quarter valued at approximately $167,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Susquehanna boosted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “positive” rating in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Macquarie reaffirmed an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. Jefferies Financial Group boosted their price target on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, Benchmark boosted their price target 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. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.63.

Insider Transactions at Rush Street Interactive

In related news, COO Mattias Stetz sold 25,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.73, for a total value of $293,250.00. Following the completion of the sale, the chief operating officer now directly owns 531,089 shares in the company, valued at $6,229,673.97. The trade was a 4.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 109,567 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.85, for a total value of $1,079,234.95. Following the completion of the sale, the chief executive officer now owns 2,082,376 shares of the company’s stock, valued at $20,511,403.60. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 723,805 shares of company stock worth $7,957,809. 56.94% of the stock is owned by company insiders.

Rush Street Interactive Trading Up 2.0%

Shares of NYSE RSI opened at $11.97 on Tuesday. Rush Street Interactive, Inc. has a 12 month low of $8.29 and a 12 month high of $16.78. The stock has a 50 day moving average of $11.24 and a 200-day moving average of $12.72. The company has a market capitalization of $2.73 billion, a P/E ratio of -598.45 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI) last issued its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $258.90 million. During the same period in the previous year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. Analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal 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.