Wealthspire Advisors LLC Buys New Position in Rush Street Interactive, Inc. (NYSE:RSI)

Wealthspire Advisors LLC bought a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,000 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Rush Street Interactive during the fourth quarter worth $28,000. Heck Capital Advisors LLC bought a new stake in Rush Street Interactive during the fourth quarter valued at $34,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Rush Street Interactive during the 3rd quarter worth about $44,000. Point72 DIFC Ltd bought a new position in shares of Rush Street Interactive in the 3rd quarter worth about $70,000. Finally, New York State Teachers Retirement System lifted its stake in shares of Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after purchasing an additional 1,020 shares during the period. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Down 15.2 %

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

Analyst Upgrades and Downgrades

RSI has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Craig Hallum lifted their price objective on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Macquarie reiterated an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a report on Thursday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.71.

Insider Activity

In other news, insider Einar Roosileht sold 48,968 shares of Rush Street Interactive stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total transaction of $687,510.72. Following the completion of the sale, the insider now directly owns 830,292 shares of the company’s stock, valued at approximately $11,657,299.68. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard Todd Schwartz sold 45,256 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $13.51, for a total value of $611,408.56. Following the completion of the transaction, the chief executive officer now directly owns 1,762,227 shares in the company, valued at approximately $23,807,686.77. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 825,853 shares of company stock worth $11,655,336. 56.89% of the stock is currently owned by insiders.

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.