Rush Street Interactive, Inc. (NYSE:RSI) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 14.0% during the 4th quarter, Holdings Channel reports. The firm owned 8,596,434 shares of the company’s stock after purchasing an additional 1,056,583 shares during the quarter. Vanguard Group Inc.’s holdings in Rush Street Interactive were worth $117,943,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RSI. R Squared Ltd purchased a new stake in Rush Street Interactive during the 4th quarter worth about $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Rush Street Interactive during the 4th quarter worth about $34,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Rush Street Interactive during the third quarter worth about $44,000. Point72 DIFC Ltd acquired a new position in shares of Rush Street Interactive in the third quarter valued at approximately $70,000. Finally, LPL Financial LLC purchased a new position in shares of Rush Street Interactive during the fourth quarter valued at approximately $173,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RSI has been the subject of several recent analyst reports. Susquehanna raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Jefferies Financial Group lifted their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Needham & Company LLC reiterated a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, February 27th. Macquarie reissued an “outperform” rating and issued a $16.00 price target on shares of Rush Street Interactive in a research note on Thursday, February 27th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $15.50.

Insider Transactions at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 33,142 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $13.98, for a total value of $463,325.16. Following the completion of the sale, the chief executive officer now directly owns 2,118,506 shares in the company, valued at approximately $29,616,713.88. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Wierbicki sold 7,500 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was 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 in the company, valued at approximately $2,090,805. This represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 734,429 shares of company stock worth $9,314,246. 56.89% of the stock is currently owned by company insiders.

Rush Street Interactive Price Performance

Shares of NYSE:RSI opened at $10.49 on Wednesday. The business has a 50-day moving average of $12.40 and a two-hundred day moving average of $12.54. The firm has a market capitalization of $2.39 billion, a PE ratio of -524.40 and a beta of 1.90. Rush Street Interactive, Inc. has a 12 month low of $5.71 and a 12 month high of $16.78.

Rush Street Interactive 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.