Rush Street Interactive, Inc. (NYSE:RSI) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC raised its stake in Rush Street Interactive, Inc. (NYSE:RSI) by 184.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,626 shares of the company’s stock after buying an additional 10,786 shares during the quarter. AlphaQuest LLC’s holdings in Rush Street Interactive were worth $228,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Rush Street Interactive by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock worth $18,843,000 after acquiring an additional 92,314 shares during the last quarter. State Street Corp lifted its stake in Rush Street Interactive by 3.6% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Rush Street Interactive by 18.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 879,563 shares of the company’s stock worth $12,068,000 after buying an additional 137,701 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of 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 valued at $8,907,000 after buying an additional 344,276 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of Rush Street Interactive by 117.6% in the 3rd quarter. Algert Global LLC now owns 510,361 shares of the company’s stock valued at $5,537,000 after buying an additional 275,788 shares during the period. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $10.75 on Friday. The business has a 50-day moving average of $13.73 and a two-hundred day moving average of $12.38. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -537.25 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.

Insider Transactions at Rush Street Interactive

In related news, Director Judith Gold sold 118,001 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $13.55, for a total value of $1,598,913.55. Following the transaction, the director now directly owns 21,999 shares of the company’s stock, valued at $298,086.45. This trade represents a 84.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 4,419 shares of the business’s 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 directly owns 2,392,587 shares of the company’s stock, valued at approximately $32,898,071.25. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 960,164 shares of company stock valued at $12,870,812. Corporate insiders own 56.89% of the company’s stock.

Wall Street Analyst Weigh In

RSI has been the subject of several research reports. Benchmark lifted their target price on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Jefferies Financial Group upped their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. Macquarie reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. Finally, Susquehanna upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rush Street Interactive presently has a consensus rating of “Buy” and a consensus target price of $15.50.

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.