HighTower Advisors LLC Acquires Shares of 33,099 Rush Street Interactive, Inc. (NYSE:RSI)

HighTower Advisors LLC purchased a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 33,099 shares of the company’s stock, valued at approximately $454,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RSI. R Squared Ltd bought a new stake in Rush Street Interactive during the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new stake in shares of Rush Street Interactive in the 4th quarter worth about $34,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Rush Street Interactive in the 3rd quarter worth about $44,000. Point72 DIFC Ltd bought a new stake in Rush Street Interactive during the third quarter worth about $70,000. Finally, Quarry LP grew its holdings in Rush Street Interactive by 80.6% in the third quarter. Quarry LP now owns 15,824 shares of the company’s stock worth $172,000 after purchasing an additional 7,062 shares during the period. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock opened at $10.80 on Monday. Rush Street Interactive, Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $16.78. The company has a fifty day moving average of $13.01 and a 200 day moving average of $12.53. The company has a market capitalization of $2.46 billion, a P/E ratio of -539.80 and a beta of 1.92.

Analysts Set New Price Targets

A number of research firms have recently commented on RSI. Macquarie reissued an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Thursday, February 27th. Benchmark increased their price target on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company boosted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Finally, Susquehanna upgraded Rush Street Interactive from a “hold” rating to a “strong-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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $15.50.

Insider Buying and Selling

In other news, CFO Kyle Sauers sold 28,381 shares of Rush Street Interactive stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $10.70, for a total value of $303,676.70. Following the sale, the chief financial officer now directly owns 470,323 shares of the company’s stock, valued at approximately $5,032,456.10. The trade was a 5.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Wierbicki sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total value of $112,500.00. Following the transaction, the insider now owns 139,387 shares of the company’s stock, valued at $2,090,805. This represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 870,544 shares of company stock valued at $11,575,575. Corporate insiders own 56.89% of the company’s stock.

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.