WealthTrak Capital Management LLC Takes $71,000 Position in Rush Street Interactive, Inc. (NYSE:RSI)

WealthTrak Capital Management LLC purchased a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,150 shares of the company’s stock, valued at approximately $71,000.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in Rush Street Interactive during the fourth quarter worth $28,000. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive during the 4th quarter worth $34,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Rush Street Interactive during the 3rd quarter worth about $44,000. Point72 DIFC Ltd purchased a new stake in Rush Street Interactive in the 3rd quarter valued at about $70,000. Finally, LPL Financial LLC acquired a new position in Rush Street Interactive in the fourth quarter valued at about $173,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RSI shares. Wells Fargo & Company lifted their price target 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. Susquehanna upgraded shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Benchmark boosted 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. Macquarie restated an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. Finally, Jefferies Financial Group lifted their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $15.50.

Insider Buying and Selling

In other news, CFO Kyle Sauers sold 28,381 shares of Rush Street Interactive stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $10.70, for a total transaction of $303,676.70. Following the completion of the sale, the chief financial officer now directly owns 470,323 shares of the company’s stock, valued at approximately $5,032,456.10. The trade was a 5.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 149,605 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total value of $2,185,729.05. Following the completion of the transaction, the chief executive officer now directly owns 2,151,648 shares in the company, valued at $31,435,577.28. This trade represents a 6.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 988,545 shares of company stock worth $13,174,489. Company insiders own 56.89% of the company’s stock.

Rush Street Interactive Price Performance

RSI opened at $10.80 on Friday. The business has a fifty day moving average price of $13.01 and a 200 day moving average price of $12.49. Rush Street Interactive, Inc. has a 12 month low of $5.71 and a 12 month high of $16.78. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -539.80 and a beta of 1.92.

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.