Voloridge Investment Management LLC Has $2.66 Million Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

Voloridge Investment Management LLC raised its position in Rush Street Interactive, Inc. (NYSE:RSI) by 1,084.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 194,033 shares of the company’s stock after buying an additional 177,645 shares during the period. Voloridge Investment Management LLC owned 0.09% of Rush Street Interactive worth $2,662,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legato Capital Management LLC purchased a new stake in Rush Street Interactive in the 4th quarter valued at about $1,897,000. Oppenheimer & Co. Inc. purchased a new stake in Rush Street Interactive in the 4th quarter valued at about $337,000. Bank of America Corp DE increased its stake in Rush Street Interactive by 28.0% in the 4th quarter. Bank of America Corp DE now owns 563,769 shares of the company’s stock valued at $7,735,000 after buying an additional 123,305 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Rush Street Interactive by 18.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 879,563 shares of the company’s stock valued at $12,068,000 after buying an additional 137,701 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Rush Street Interactive by 53.0% in the 4th quarter. JPMorgan Chase & Co. now owns 406,094 shares of the company’s stock valued at $5,572,000 after buying an additional 140,682 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Susquehanna raised their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “positive” rating in a research note on Thursday, May 1st. Wells Fargo & Company raised their price target 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. Macquarie restated an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Needham & Company LLC restated a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $15.63.

Insider Buying and Selling at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 109,567 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,082,376 shares in the company, valued at approximately $20,511,403.60. This represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Einar Roosileht sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.67, for a total transaction of $816,900.00. Following the completion of the transaction, the insider now 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. Over the last quarter, insiders have sold 723,805 shares of company stock worth $7,957,809. 56.94% of the stock is currently owned by company insiders.

Rush Street Interactive Stock Up 0.6%

Rush Street Interactive stock opened at $11.91 on Wednesday. The company has a market capitalization of $2.73 billion, a PE ratio of -595.25 and a beta of 1.88. The firm has a fifty day simple moving average of $11.59 and a two-hundred day simple moving average of $12.81. Rush Street Interactive, Inc. has a twelve month low of $8.52 and a twelve month high of $16.78.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $258.90 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal 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.