Caxton Associates LLP Buys 53,048 Shares of Rush Street Interactive, Inc. $RSI

Caxton Associates LLP raised its stake in Rush Street Interactive, Inc. (NYSE:RSI) by 77.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,202 shares of the company’s stock after purchasing an additional 53,048 shares during the quarter. Caxton Associates LLP owned 0.05% of Rush Street Interactive worth $1,806,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Alliancebernstein L.P. raised its position in Rush Street Interactive by 1,617.7% in the 1st quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company’s stock valued at $65,754,000 after buying an additional 5,776,660 shares during the last quarter. Nuveen LLC bought a new stake in shares of Rush Street Interactive in the 1st quarter worth $29,005,000. Marshall Wace LLP grew its stake in shares of Rush Street Interactive by 100.9% in the 2nd quarter. Marshall Wace LLP now owns 2,372,671 shares of the company’s stock worth $35,353,000 after acquiring an additional 1,191,546 shares in the last quarter. 1060 Capital LLC purchased a new stake in shares of Rush Street Interactive in the second quarter valued at about $11,222,000. Finally, Topline Capital Management LLC lifted its position in shares of Rush Street Interactive by 30.7% during the first quarter. Topline Capital Management LLC now owns 2,366,875 shares of the company’s stock valued at $25,373,000 after purchasing an additional 555,552 shares in the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Insider Buying and Selling

In other news, CEO Richard Todd Schwartz sold 59,757 shares of Rush Street Interactive stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $18.82, for a total value of $1,124,626.74. Following the completion of the transaction, the chief executive officer owned 454,821 shares in the company, valued at $8,559,731.22. This trade represents a 11.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $19.96, for a total transaction of $1,397,200.00. Following the completion of the sale, the insider directly owned 876,150 shares in the company, valued at approximately $17,487,954. This trade represents a 7.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 756,753 shares of company stock valued at $13,968,614. 56.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 7th. Craig Hallum reaffirmed a “buy” rating on shares of Rush Street Interactive in a report on Tuesday, December 9th. JPMorgan Chase & Co. increased their price target on Rush Street Interactive from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Oppenheimer reiterated an “outperform” rating and set a $24.00 price target on shares of Rush Street Interactive in a report on Thursday, October 30th. Finally, Zacks Research upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.75.

Rush Street Interactive Trading Up 1.6%

NYSE:RSI opened at $19.32 on Monday. Rush Street Interactive, Inc. has a 12 month low of $9.54 and a 12 month high of $22.65. The firm’s 50 day moving average is $18.16 and its 200 day moving average is $17.77. The stock has a market capitalization of $4.43 billion, a PE ratio of 77.29 and a beta of 1.65.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $277.91 million during the quarter, compared to analyst estimates of $264.60 million. Rush Street Interactive had a return on equity of 17.11% and a net margin of 2.83%.Rush Street Interactive’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 earnings per share. Research analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current 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.