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

Diametric Capital LP reduced its position in Rush Street Interactive, Inc. (NYSE:RSI) by 25.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 42,180 shares of the company’s stock after selling 14,438 shares during the quarter. Diametric Capital LP’s holdings in Rush Street Interactive were worth $579,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of RSI. R Squared Ltd acquired a new position in shares of Rush Street Interactive during the fourth quarter worth about $28,000. Heck Capital Advisors LLC acquired a new position in Rush Street Interactive during the 4th quarter worth approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Rush Street Interactive during the 3rd quarter worth approximately $44,000. Point72 DIFC Ltd acquired a new stake in shares of Rush Street Interactive in the 3rd quarter valued at approximately $70,000. Finally, WealthTrak Capital Management LLC purchased a new stake in shares of Rush Street Interactive in the fourth quarter valued at approximately $71,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Richard Todd Schwartz sold 149,605 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total transaction of $2,185,729.05. Following the transaction, the chief executive officer now owns 2,151,648 shares of the company’s stock, valued at approximately $31,435,577.28. This represents a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kyle Sauers sold 28,381 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $10.70, for a total transaction of $303,676.70. Following the sale, the chief financial officer now owns 470,323 shares in the company, valued at approximately $5,032,456.10. This trade represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 870,544 shares of company stock valued at $11,575,575. Corporate insiders own 56.89% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on RSI. Needham & Company LLC reiterated a “buy” rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. 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 report on Wednesday, January 15th. Susquehanna raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Finally, Benchmark boosted their price target on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $15.50.

Rush Street Interactive Price Performance

Shares of RSI opened at $10.75 on Tuesday. Rush Street Interactive, Inc. has a 1-year low of $5.71 and a 1-year high of $16.78. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -537.25 and a beta of 1.92. The firm has a 50 day simple moving average of $12.92 and a 200-day simple moving average of $12.53.

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.