Arrowstreet Capital Limited Partnership Grows Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Arrowstreet Capital Limited Partnership raised its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 62.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,663,246 shares of the company’s stock after buying an additional 1,018,889 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.18% of Rush Street Interactive worth $36,540,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RSI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Rush Street Interactive in the third quarter valued at approximately $656,000. Legato Capital Management LLC purchased a new stake in Rush Street Interactive during the fourth quarter valued at about $1,897,000. Oppenheimer & Co. Inc. acquired a new stake in Rush Street Interactive during the fourth quarter worth about $337,000. Point72 Asset Management L.P. raised its holdings in shares of Rush Street Interactive by 307.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 101,064 shares of the company’s stock worth $1,097,000 after purchasing an additional 76,243 shares during the period. Finally, State Street Corp grew its holdings in shares of Rush Street Interactive by 3.6% during the 3rd quarter. State Street Corp now owns 1,612,892 shares of the company’s stock worth $17,500,000 after purchasing an additional 55,697 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

Insiders Place Their Bets

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 4,419 shares of Rush Street Interactive stock in a transaction on Monday, January 13th. The shares were sold at an average price of $13.75, for a total transaction of $60,761.25. Following the completion of the sale, the chief executive officer now owns 2,392,587 shares of the company’s stock, valued at approximately $32,898,071.25. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kyle Sauers sold 28,381 shares of the firm’s 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 in the company, valued at approximately $5,032,456.10. This represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 804,034 shares of company stock worth $10,641,775. 56.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on RSI shares. 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. Macquarie reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research report on Thursday, February 27th. Susquehanna raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Jefferies Financial Group upped their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rush Street Interactive presently has a consensus rating of “Buy” and a consensus price target of $15.50.

Rush Street Interactive Stock Up 3.5 %

NYSE:RSI opened at $11.37 on Thursday. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -568.50 and a beta of 1.92. The company’s 50 day moving average is $12.77 and its 200-day moving average is $12.53. 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.