Caxton Associates LP Buys New Position in Rush Street Interactive, Inc. (NYSE:RSI)

Caxton Associates LP purchased a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 81,906 shares of the company’s stock, valued at approximately $1,124,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RSI. Price T Rowe Associates Inc. MD increased its holdings in shares of Rush Street Interactive by 7,958.9% in 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 acquiring an additional 2,004,059 shares during the period. Topline Capital Management LLC purchased a new stake in shares of Rush Street Interactive in the fourth quarter valued at about $24,851,000. William Blair Investment Management LLC acquired a new stake in shares of Rush Street Interactive during the fourth quarter worth about $21,635,000. Vanguard Group Inc. grew its holdings in shares of Rush Street Interactive by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock worth $117,943,000 after buying an additional 1,056,583 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in 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 acquiring an additional 1,018,889 shares during the period. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Trading Up 1.8 %

RSI stock opened at $11.86 on Tuesday. The company’s 50-day moving average price is $11.21 and its 200 day moving average price is $12.68. Rush Street Interactive, Inc. has a 52 week low of $7.91 and a 52 week high of $16.78. The company has a market cap of $2.70 billion, a P/E ratio of -593.00 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 for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $262.41 million for the quarter, compared to analysts’ expectations 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 revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. On average, equities research analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RSI shares. Macquarie reiterated an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Friday. Wells Fargo & Company boosted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Susquehanna upped their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “positive” rating in a research report on Thursday, May 1st. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Benchmark raised their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rush Street Interactive currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.63.

Insiders Place Their Bets

In related news, COO Mattias Stetz sold 24,467 shares of Rush Street Interactive stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $11.57, for a total transaction of $283,083.19. Following the completion of the sale, the chief operating officer now owns 396,584 shares in the company, valued at approximately $4,588,476.88. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Todd Schwartz sold 109,567 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the completion of the transaction, the chief executive officer now directly owns 2,082,376 shares of the company’s stock, valued at $20,511,403.60. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 750,225 shares of company stock worth $8,587,086. Insiders own 56.89% of the company’s stock.

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.