Brevan Howard Capital Management LP Sells 16,053 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Brevan Howard Capital Management LP reduced its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 40.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,276 shares of the company’s stock after selling 16,053 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Rush Street Interactive were worth $319,000 as of its most recent SEC filing.

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

Rush Street Interactive Trading Down 0.2 %

Rush Street Interactive stock opened at $11.76 on Friday. Rush Street Interactive, Inc. has a 12 month low of $8.29 and a 12 month high of $16.78. The stock has a fifty day simple moving average of $11.24 and a two-hundred day simple moving average of $12.69. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -588.00 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $262.41 million during the quarter, compared to the consensus estimate of $258.90 million. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. Rush Street Interactive’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. On average, equities research analysts forecast that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RSI. Benchmark boosted 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 note on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 price target on shares of Rush Street Interactive in a report on Thursday, May 1st. Jefferies Financial Group lifted their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Macquarie restated an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. Finally, Susquehanna lifted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company a “positive” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rush Street Interactive currently has an average rating of “Moderate Buy” and an average target price of $15.63.

Insiders Place Their Bets

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 106,952 shares of the business’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 completion of the sale, the chief executive officer now directly owns 1,492,234 shares in the company, valued at $17,697,895.24. The trade was a 6.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mattias Stetz sold 3,777 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $12.08, for a total transaction of $45,626.16. Following the completion of the transaction, the chief operating officer now owns 421,051 shares in the company, valued at $5,086,296.08. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 857,710 shares of company stock valued at $9,861,938. Company insiders own 56.94% of the company’s stock.

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.