Wealthspire Advisors LLC Invests $206,000 in Rush Street Interactive, Inc. (NYSE:RSI)

Wealthspire Advisors LLC purchased a new stake in Rush Street Interactive, Inc. (NYSE:RSI) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 15,000 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. New York State Teachers Retirement System boosted its position in shares of Rush Street Interactive by 17.2% during the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after purchasing an additional 1,020 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Rush Street Interactive by 0.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock worth $3,572,000 after buying an additional 1,087 shares during the period. Mesirow Financial Investment Management Inc. lifted its holdings in Rush Street Interactive by 7.3% during the third quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company’s stock worth $279,000 after acquiring an additional 1,745 shares in the last quarter. R Squared Ltd acquired a new position in Rush Street Interactive in the fourth quarter valued at about $28,000. Finally, Rhumbline Advisers increased its holdings in shares of Rush Street Interactive by 2.4% in the fourth quarter. Rhumbline Advisers now owns 103,426 shares of the company’s stock worth $1,419,000 after acquiring an additional 2,457 shares in the last quarter. Institutional investors own 24.78% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on RSI shares. Jefferies Financial Group increased their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Craig Hallum raised their price objective on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Macquarie reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Thursday. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Susquehanna boosted their price target on Rush Street Interactive from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.71.

Rush Street Interactive Stock Down 15.2 %

Shares of Rush Street Interactive stock opened at $11.27 on Friday. The stock has a market cap of $2.54 billion, a P/E ratio of -563.70 and a beta of 1.88. Rush Street Interactive, Inc. has a 12-month low of $5.22 and a 12-month high of $16.78. The business’s 50 day moving average is $14.39 and its 200-day moving average is $12.25.

Insider Buying and Selling

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 133,905 shares of Rush Street Interactive stock in a transaction on Monday, February 10th. The shares were sold at an average price of $14.22, for a total transaction of $1,904,129.10. Following the completion of the transaction, the chief executive officer now directly owns 2,251,943 shares of the company’s stock, valued at $32,022,629.46. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Wierbicki sold 7,500 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total transaction of $112,500.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 825,853 shares of company stock worth $11,655,336. Company 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.