Alliancebernstein L.P. Sells 74,800 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Alliancebernstein L.P. trimmed its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 17.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 357,099 shares of the company's stock after selling 74,800 shares during the period. Alliancebernstein L.P. owned approximately 0.16% of Rush Street Interactive worth $4,899,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in RSI. R Squared Ltd acquired a new position in Rush Street Interactive in the 4th quarter worth about $28,000. Heck Capital Advisors LLC bought a new stake in shares of Rush Street Interactive in the 4th quarter valued at approximately $34,000. WealthTrak Capital Management LLC acquired a new position in Rush Street Interactive in the fourth quarter worth approximately $71,000. LPL Financial LLC bought a new position in Rush Street Interactive during the fourth quarter valued at approximately $173,000. Finally, Wealthspire Advisors LLC acquired a new stake in Rush Street Interactive in the fourth quarter valued at approximately $206,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RSI. Jefferies Financial Group increased their price target 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. Susquehanna raised shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Benchmark raised their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 28th. JMP Securities reiterated a "market perform" rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Finally, Macquarie reissued an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $15.50.

Rush Street Interactive Trading Down 0.4 %

RSI traded down $0.05 during midday trading on Friday, reaching $11.79. The company's stock had a trading volume of 784,301 shares, compared to its average volume of 1,895,942. The company has a fifty day simple moving average of $11.95 and a 200 day simple moving average of $12.57. The stock has a market cap of $2.69 billion, a P/E ratio of -589.25 and a beta of 1.90. Rush Street Interactive, Inc. has a twelve month low of $5.71 and a twelve month high of $16.78.

Insider Activity

In related news, insider Einar Roosileht sold 9,300 shares of the business's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $12.00, for a total transaction of $111,600.00. Following the transaction, the insider now directly owns 946,850 shares in the company, valued at $11,362,200. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard Todd Schwartz sold 193,905 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $10.63, for a total value of $2,061,210.15. Following the completion of the sale, the chief executive officer now owns 1,599,186 shares of the company's stock, valued at $16,999,347.18. This represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 746,281 shares of company stock valued at $8,811,577. 56.89% of the stock is owned by company insiders.

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.