Jupiter Asset Management Ltd. Raises Position in Rush Street Interactive, Inc. (NYSE:RSI)

Jupiter Asset Management Ltd. increased its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 38.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 884,913 shares of the company’s stock after acquiring an additional 243,562 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Rush Street Interactive were worth $12,141,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. R Squared Ltd purchased a new position in shares of Rush Street Interactive in the fourth quarter valued at about $28,000. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive in the fourth quarter valued at about $34,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Rush Street Interactive in the third quarter valued at about $44,000. Point72 DIFC Ltd purchased a new position in shares of Rush Street Interactive in the third quarter valued at about $70,000. Finally, Wealthspire Advisors LLC purchased a new position in shares of Rush Street Interactive in the fourth quarter valued at about $206,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Insider Buying and Selling

In related news, CEO Richard Todd Schwartz sold 149,605 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total transaction of $2,185,729.05. Following the sale, the chief executive officer now owns 2,151,648 shares of the company’s stock, valued at $31,435,577.28. The trade was a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.67, for a total transaction of $816,900.00. Following the sale, the insider now directly owns 946,150 shares in the company, valued at $11,041,570.50. The trade was a 6.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 960,164 shares of company stock valued at $12,870,812 over the last quarter. Corporate insiders own 56.89% of the company’s stock.

Rush Street Interactive Trading Up 4.5 %

Shares of RSI opened at $10.54 on Thursday. The firm’s 50-day moving average price is $13.89 and its 200-day moving average price is $12.37. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -526.75 and a beta of 1.92. Rush Street Interactive, Inc. has a 1-year low of $5.71 and a 1-year high of $16.78.

Analyst Ratings Changes

A number of research firms have issued reports on RSI. Wells Fargo & Company boosted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Macquarie restated an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. Jefferies Financial Group boosted their price objective 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. Susquehanna raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Benchmark lifted their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Rush Street Interactive currently has a consensus rating of “Buy” and a consensus target price of $15.50.

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.