30,875 Shares in Rush Street Interactive, Inc. (NYSE:RSI) Acquired by Blueshift Asset Management LLC

Blueshift Asset Management LLC bought a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,875 shares of the company’s stock, valued at approximately $424,000.

A number of other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Rush Street Interactive by 656.2% during the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock worth $843,000 after purchasing an additional 67,388 shares during the period. Victory Capital Management Inc. purchased a new position in Rush Street Interactive during the third quarter worth approximately $546,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Rush Street Interactive by 72.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock worth $8,907,000 after purchasing an additional 344,276 shares during the period. Intech Investment Management LLC purchased a new position in Rush Street Interactive during the third quarter worth approximately $192,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Rush Street Interactive by 26.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 741,862 shares of the company’s stock worth $8,049,000 after purchasing an additional 154,785 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Susquehanna raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Jefferies Financial Group raised their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Wells Fargo & Company raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a research note 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. Based on data from MarketBeat.com, Rush Street Interactive has a consensus rating of “Buy” and an average price target of $15.50.

Rush Street Interactive Price Performance

Rush Street Interactive stock opened at $10.90 on Friday. Rush Street Interactive, Inc. has a 12-month low of $5.71 and a 12-month high of $16.78. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -544.75 and a beta of 1.92. The firm’s fifty day moving average price is $13.44 and its 200 day moving average price is $12.41.

Insider Buying and Selling

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 149,605 shares of the firm’s stock in a transaction on 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 directly owns 2,151,648 shares of the company’s stock, valued at $31,435,577.28. This trade represents a 6.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Judith Gold sold 118,001 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $13.55, for a total transaction of $1,598,913.55. Following the transaction, the director now directly owns 21,999 shares of the company’s stock, valued at approximately $298,086.45. This represents a 84.29 % 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 in the last quarter. 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.