Swiss National Bank Purchases 15,200 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Swiss National Bank lifted its position in Rush Street Interactive, Inc. (NYSE:RSI) by 10.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 155,300 shares of the company’s stock after buying an additional 15,200 shares during the period. Swiss National Bank’s holdings in Rush Street Interactive were worth $2,131,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Rush Street Interactive during the fourth quarter worth about $28,000. Heck Capital Advisors LLC bought a new stake in Rush Street Interactive during the 4th quarter worth approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Rush Street Interactive in the third quarter valued at approximately $44,000. Point72 DIFC Ltd bought a new position in Rush Street Interactive in the third quarter valued at approximately $70,000. Finally, Wealthspire Advisors LLC bought a new stake in shares of Rush Street Interactive during the fourth quarter worth $206,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Insider Activity

In related news, insider Paul Wierbicki sold 7,500 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total value of $112,500.00. Following the completion of the sale, the insider now directly owns 139,387 shares in the company, valued at $2,090,805. The trade was a 5.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 149,605 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $14.61, for a total value of $2,185,729.05. Following the transaction, the chief executive officer now owns 2,151,648 shares in the company, valued at $31,435,577.28. The trade was a 6.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 988,545 shares of company stock valued at $13,174,489 over the last three months. Insiders own 56.89% of the company’s stock.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI opened at $10.99 on Friday. The company has a 50-day simple moving average of $13.09 and a 200 day simple moving average of $12.48. The company has a market capitalization of $2.51 billion, a P/E ratio of -549.25 and a beta of 1.92. Rush Street Interactive, Inc. has a 52-week low of $5.71 and a 52-week high of $16.78.

Analyst Ratings Changes

A number of research firms have issued reports on RSI. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Macquarie reiterated an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a report on Thursday, February 27th. Susquehanna upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Benchmark boosted 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. One equities research 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. According to data from MarketBeat.com, Rush Street Interactive currently has a consensus rating of “Buy” and a consensus target price of $15.50.

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.