Pictet Asset Management Holding SA Makes New $216,000 Investment in Rush Street Interactive, Inc. (NYSE:RSI)

Pictet Asset Management Holding SA purchased a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 15,754 shares of the company’s stock, valued at approximately $216,000.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Rush Street Interactive in the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new position in shares of Rush Street Interactive in the 4th quarter worth $34,000. LPL Financial LLC purchased a new stake in shares of Rush Street Interactive during the 4th quarter valued at $173,000. Wealthspire Advisors LLC bought a new stake in shares of Rush Street Interactive during the 4th quarter worth $206,000. Finally, AlphaQuest LLC grew its position in Rush Street Interactive by 184.7% in the fourth quarter. AlphaQuest LLC now owns 16,626 shares of the company’s stock worth $228,000 after acquiring an additional 10,786 shares in the last quarter. Institutional investors own 24.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on RSI. Susquehanna raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Wells Fargo & Company boosted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Macquarie reaffirmed an “outperform” rating and set a $16.00 target price on shares of Rush Street Interactive in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Rush Street Interactive currently has an average rating of “Buy” and a consensus target price of $15.50.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock opened at $11.72 on Friday. The company’s 50 day moving average price is $12.16 and its 200-day moving average price is $12.55. Rush Street Interactive, Inc. has a 52-week low of $5.71 and a 52-week high of $16.78. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -586.05 and a beta of 1.90.

Insiders Place Their Bets

In related news, CEO Richard Todd Schwartz sold 193,905 shares of the business’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $10.63, for a total transaction of $2,061,210.15. Following the transaction, the chief executive officer now owns 1,599,186 shares in the company, valued at $16,999,347.18. The trade was a 10.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Einar Roosileht sold 70,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $14.41, for a total transaction of $1,008,700.00. Following the completion of the sale, the insider now owns 946,150 shares of the company’s stock, valued at $13,634,021.50. This trade represents a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 759,700 shares of company stock valued at $9,007,338 in the last quarter. 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.