Ieq Capital LLC Takes Position in Rush Street Interactive, Inc. (NYSE:RSI)

Ieq Capital LLC acquired a new stake in Rush Street Interactive, Inc. (NYSE:RSI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,905 shares of the company’s stock, valued at approximately $616,000.

A number of other hedge funds also recently added to or reduced their stakes in RSI. Millrace Asset Group Inc. bought a new stake in shares of Rush Street Interactive in the 3rd quarter valued at about $2,135,000. Principal Financial Group Inc. increased its holdings in Rush Street Interactive by 656.2% during the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after buying an additional 67,388 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Rush Street Interactive by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock worth $8,907,000 after buying an additional 344,276 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Rush Street Interactive during the third quarter worth $656,000. Finally, Legato Capital Management LLC bought a new stake in Rush Street Interactive during the 4th quarter valued at $1,897,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Performance

Shares of RSI stock opened at $12.91 on Wednesday. Rush Street Interactive, Inc. has a fifty-two week low of $5.22 and a fifty-two week high of $16.78. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -645.30 and a beta of 1.88. The stock’s 50-day simple moving average is $14.42 and its 200-day simple moving average is $12.25.

Analysts Set New Price Targets

RSI has been the subject of several recent research reports. Susquehanna boosted their price target on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday. Jefferies Financial Group boosted their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Craig Hallum lifted their price objective on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC increased their target price on shares of Rush Street Interactive from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rush Street Interactive presently has an average rating of “Moderate Buy” and an average price target of $15.33.

Insider Buying and Selling

In related news, insider Paul Wierbicki sold 7,500 shares of the company’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 transaction, the insider now directly owns 139,387 shares of the company’s stock, valued at $2,090,805. This represents a 5.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Todd Schwartz sold 133,905 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $14.22, for a total value of $1,904,129.10. Following the completion of the transaction, the chief executive officer now owns 2,251,943 shares of the company’s stock, valued at $32,022,629.46. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 825,853 shares of company stock worth $11,655,336 in the last three months. Corporate insiders own 56.89% of the company’s stock.

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.