Harvest Fund Management Co. Ltd Makes New $252,000 Investment in Rush Street Interactive, Inc. (NYSE:RSI)

Harvest Fund Management Co. Ltd purchased a new position in Rush Street Interactive, Inc. (NYSE:RSI) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 18,388 shares of the company’s stock, valued at approximately $252,000.

Other large investors also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Rush Street Interactive in the fourth quarter worth about $28,000. Heck Capital Advisors LLC bought a new stake in shares of Rush Street Interactive in the fourth quarter worth $34,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Rush Street Interactive in the third quarter worth $44,000. Point72 DIFC Ltd bought a new stake in shares of Rush Street Interactive in the third quarter worth $70,000. Finally, Wealthspire Advisors LLC bought a new stake in shares of Rush Street Interactive in the fourth quarter worth $206,000. 24.78% of the stock is currently owned by institutional investors.

Rush Street Interactive Price Performance

Shares of RSI opened at $10.95 on Friday. The firm has a market capitalization of $2.50 billion, a PE ratio of -547.25 and a beta of 1.92. The company’s 50-day moving average is $13.38 and its 200-day moving average is $12.42. Rush Street Interactive, Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $16.78.

Insider Activity

In related news, insider Paul Wierbicki sold 7,500 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were 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 in the company, valued at approximately $2,090,805. This represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard Todd Schwartz sold 149,605 shares of the company’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 completion of the transaction, the chief executive officer now owns 2,151,648 shares in the company, valued at $31,435,577.28. This trade represents a 6.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 988,545 shares of company stock valued at $13,174,489 over the last ninety days. 56.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RSI. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Macquarie reaffirmed an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. Jefferies Financial Group upped their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Benchmark upped their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. One 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 stock. According to data from MarketBeat, Rush Street Interactive presently has a consensus rating of “Buy” and an average price target 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.