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HG Vora Capital Management LLC Raises Stake in Rush Street Interactive, Inc. (NYSE:RSI)

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HG Vora Capital Management LLC raised its stake in Rush Street Interactive, Inc. (NYSE:RSI – Get Rating) by 4.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 6,000,000 shares of the company's stock after buying an additional 250,000 shares during the period. Rush Street Interactive accounts for approximately 1.3% of HG Vora Capital Management LLC's investment portfolio, making the stock its 20th largest position. HG Vora Capital Management LLC's holdings in Rush Street Interactive were worth $43,620,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Exos Asset Management LLC grew its holdings in Rush Street Interactive by 17.7% in the 1st quarter. Exos Asset Management LLC now owns 9,989 shares of the company's stock valued at $73,000 after buying an additional 1,500 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Rush Street Interactive by 15.7% during the 1st quarter. Russell Investments Group Ltd. now owns 25,570 shares of the company's stock worth $184,000 after purchasing an additional 3,471 shares during the period. NewEdge Wealth LLC grew its holdings in shares of Rush Street Interactive by 17.8% during the 1st quarter. NewEdge Wealth LLC now owns 31,162 shares of the company's stock worth $227,000 after purchasing an additional 4,710 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of Rush Street Interactive during the 4th quarter worth $81,000. Finally, Diametric Capital LP grew its holdings in shares of Rush Street Interactive by 17.5% during the 4th quarter. Diametric Capital LP now owns 34,474 shares of the company's stock worth $569,000 after purchasing an additional 5,142 shares during the period. 37.76% of the stock is currently owned by hedge funds and other institutional investors.

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Rush Street Interactive Price Performance

RSI stock remained flat at $5.35 during mid-day trading on Monday. The company's stock had a trading volume of 8,532 shares, compared to its average volume of 1,110,501. The company has a market cap of $1.18 billion, a P/E ratio of -8.49 and a beta of 1.95. The company has a fifty day moving average of $5.49 and a two-hundred day moving average of $6.25. Rush Street Interactive, Inc. has a 52 week low of $4.06 and a 52 week high of $21.83.

Rush Street Interactive (NYSE:RSI – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.03). The company had revenue of $143.74 million during the quarter, compared to analyst estimates of $152.30 million. Rush Street Interactive had a negative net margin of 7.28% and a negative return on equity of 18.28%. Sell-side analysts predict that Rush Street Interactive, Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, major shareholder Gregory A. Carlin sold 48,679 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $5.75, for a total value of $279,904.25. Following the sale, the insider now owns 1,951,321 shares of the company's stock, valued at approximately $11,220,095.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rush Street Interactive news, major shareholder Gregory A. Carlin sold 48,679 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $5.75, for a total value of $279,904.25. Following the sale, the insider now owns 1,951,321 shares of the company's stock, valued at approximately $11,220,095.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel W. Yih bought 60,000 shares of the business's stock in a transaction dated Wednesday, August 31st. The shares were acquired at an average cost of $5.06 per share, for a total transaction of $303,600.00. Following the transaction, the director now directly owns 82,759 shares in the company, valued at approximately $418,760.54. The disclosure for this purchase can be found here. Insiders have sold 365,061 shares of company stock valued at $2,183,266 in the last quarter. Corporate insiders own 58.02% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on RSI. Susquehanna began coverage on Rush Street Interactive in a report on Wednesday, July 20th. They set a "neutral" rating and a $6.00 price target for the company. JMP Securities began coverage on Rush Street Interactive in a report on Tuesday, June 28th. They set an "outperform" rating and a $12.00 price target for the company. Craig Hallum lowered their price target on Rush Street Interactive to $9.00 in a report on Tuesday, August 9th. Finally, Susquehanna Bancshares began coverage on Rush Street Interactive in a report on Wednesday, July 20th. They set a "neutral" rating and a $6.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $12.80.

Rush Street Interactive Profile

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Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States and 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.

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Want to see what other hedge funds are holding RSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rush Street Interactive, Inc. (NYSE:RSI – Get Rating).

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