Diametric Capital LP Lowers Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

Diametric Capital LP lowered its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 25.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,180 shares of the company’s stock after selling 14,438 shares during the period. Diametric Capital LP’s holdings in Rush Street Interactive were worth $579,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Rush Street Interactive in the third quarter worth $656,000. Legato Capital Management LLC acquired a new position in Rush Street Interactive during the 4th quarter worth $1,897,000. Oppenheimer & Co. Inc. purchased a new stake in Rush Street Interactive during the 4th quarter worth about $337,000. Point72 Asset Management L.P. raised its position in Rush Street Interactive by 307.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 101,064 shares of the company’s stock valued at $1,097,000 after purchasing an additional 76,243 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Rush Street Interactive by 3.6% in the 3rd quarter. State Street Corp now owns 1,612,892 shares of the company’s stock valued at $17,500,000 after buying an additional 55,697 shares during the period. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Performance

RSI opened at $10.75 on Tuesday. Rush Street Interactive, Inc. has a one year low of $5.71 and a one year high of $16.78. The stock has a market capitalization of $2.45 billion, a P/E ratio of -537.25 and a beta of 1.92. The business’s 50-day simple moving average is $12.92 and its 200-day simple moving average is $12.53.

Insider Buying and Selling

In other news, CFO Kyle Sauers sold 28,381 shares of Rush Street Interactive stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $10.70, for a total value of $303,676.70. Following the transaction, the chief financial officer now directly owns 470,323 shares of the company’s stock, valued at $5,032,456.10. The trade was a 5.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard Todd Schwartz sold 109,567 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 2,082,376 shares of the company’s stock, valued at approximately $20,511,403.60. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 870,544 shares of company stock worth $11,575,575 in the last quarter. 56.89% of the stock is owned by insiders.

Analyst Ratings Changes

RSI has been the topic of a number of recent research reports. Jefferies Financial Group upped their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Benchmark lifted their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Macquarie restated an “outperform” rating and issued a $16.00 price target on shares of Rush Street Interactive in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.50.

Rush Street Interactive 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.