Graham Capital Management L.P. Has $1.25 Million Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Graham Capital Management L.P. reduced its position in Rush Street Interactive, Inc. (NYSE:RSI) by 36.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 90,847 shares of the company’s stock after selling 51,657 shares during the period. Graham Capital Management L.P.’s holdings in Rush Street Interactive were worth $1,246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Deutsche Bank AG increased its stake in shares of Rush Street Interactive by 233.6% in the 4th quarter. Deutsche Bank AG now owns 125,699 shares of the company’s stock valued at $1,725,000 after buying an additional 88,017 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of Rush Street Interactive by 60.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,015,756 shares of the company’s stock worth $13,936,000 after purchasing an additional 382,618 shares during the last quarter. Driehaus Capital Management LLC boosted its position in shares of Rush Street Interactive by 56.6% in the 4th quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company’s stock worth $30,191,000 after purchasing an additional 795,719 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Rush Street Interactive by 450.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 231,084 shares of the company’s stock worth $3,170,000 after purchasing an additional 189,107 shares during the last quarter. Finally, Caxton Associates LP bought a new position in shares of Rush Street Interactive in the 4th quarter worth $1,124,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Richard Todd Schwartz sold 106,952 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $11.86, for a total transaction of $1,268,450.72. Following the sale, the chief executive officer now owns 1,492,234 shares in the company, valued at approximately $17,697,895.24. This represents a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Einar Roosileht sold 70,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.67, for a total value of $816,900.00. Following the sale, the insider now owns 946,150 shares in the company, valued at $11,041,570.50. The trade was a 6.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 723,805 shares of company stock worth $7,957,809. Corporate insiders own 56.94% of the company’s stock.

Analyst Upgrades and Downgrades

RSI has been the topic of several recent analyst reports. Benchmark lifted their target price on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Susquehanna lifted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “positive” rating in a report on Thursday, May 1st. 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. Macquarie reiterated an “outperform” rating and set a $16.00 target price on shares of Rush Street Interactive in a report on Friday, May 2nd. Finally, Jefferies Financial Group lifted their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.63.

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock opened at $11.97 on Tuesday. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -598.45 and a beta of 1.88. The stock’s 50-day moving average is $11.24 and its 200-day moving average is $12.72. Rush Street Interactive, Inc. has a one year low of $8.29 and a one year high of $16.78.

Rush Street Interactive (NYSE:RSI) 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 for the quarter, compared to analyst estimates of $258.90 million. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 earnings per share. On average, equities analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS 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.