Geode Capital Management LLC Has $24.61 Million Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Geode Capital Management LLC boosted its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,793,273 shares of the company’s stock after purchasing an additional 57,014 shares during the period. Geode Capital Management LLC’s holdings in Rush Street Interactive were worth $24,610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd bought a new position in Rush Street Interactive during the 4th quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new position in Rush Street Interactive during the 4th quarter worth $34,000. WealthTrak Capital Management LLC acquired a new stake in Rush Street Interactive in the fourth quarter worth about $71,000. LPL Financial LLC acquired a new stake in shares of Rush Street Interactive during the 4th quarter worth approximately $173,000. Finally, Wealthspire Advisors LLC acquired a new stake in shares of Rush Street Interactive during the 4th quarter worth approximately $206,000. Institutional investors own 24.78% of the company’s stock.

Insider Activity

In related news, insider Einar Roosileht sold 9,300 shares of the business’s stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $12.00, for a total value of $111,600.00. Following the sale, the insider now directly owns 946,850 shares of the company’s stock, valued at approximately $11,362,200. The trade was a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Mattias Stetz sold 20,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $10.84, for a total value of $216,800.00. Following the transaction, the chief operating officer now owns 426,051 shares of the company’s stock, valued at approximately $4,618,392.84. This trade represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 746,281 shares of company stock worth $8,811,577 over the last quarter. 56.89% of the stock is currently owned by company insiders.

Rush Street Interactive Stock Performance

Shares of RSI opened at $11.79 on Friday. The firm has a market capitalization of $2.69 billion, a PE ratio of -589.25 and a beta of 1.90. The stock has a 50 day simple moving average of $11.89 and a 200 day simple moving average of $12.58. Rush Street Interactive, Inc. has a 52-week low of $5.71 and a 52-week high of $16.78.

Analysts Set New Price Targets

RSI has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Wells Fargo & Company raised their price target 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. Macquarie reiterated an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a report on Thursday, February 27th. Benchmark raised their target price on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Jefferies Financial Group increased their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rush Street Interactive presently has an average 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.