RFG Bristol Wealth Advisors LLC Makes New Investment in Rush Street Interactive, Inc. (NYSE:RSI)

RFG Bristol Wealth Advisors 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 filing with the Securities and Exchange Commission. The institutional investor bought 16,200 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its stake in Rush Street Interactive by 0.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock worth $3,572,000 after purchasing an additional 1,087 shares during the period. R Squared Ltd purchased a new stake in shares of Rush Street Interactive in the 4th quarter worth about $28,000. Arizona State Retirement System increased its stake in shares of Rush Street Interactive by 11.0% in the 4th quarter. Arizona State Retirement System now owns 22,913 shares of the company’s stock worth $314,000 after acquiring an additional 2,265 shares in the last quarter. Rhumbline Advisers lifted its position in Rush Street Interactive by 2.4% during the 4th quarter. Rhumbline Advisers now owns 103,426 shares of the company’s stock valued at $1,419,000 after acquiring an additional 2,457 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in Rush Street Interactive during the fourth quarter worth about $34,000. Institutional investors own 24.78% of the company’s stock.

Insiders Place Their Bets

In other Rush Street Interactive news, insider Paul Wierbicki sold 7,500 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total transaction of $112,500.00. Following the completion of the sale, the insider now directly owns 139,387 shares in the company, valued at $2,090,805. The trade was a 5.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kyle Sauers sold 28,381 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $10.70, for a total transaction of $303,676.70. Following the completion of the transaction, the chief financial officer now owns 470,323 shares in the company, valued at $5,032,456.10. This trade represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 804,034 shares of company stock valued at $10,641,775. Company insiders own 56.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RSI. Wells Fargo & Company boosted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Susquehanna raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Benchmark lifted their price target on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Macquarie reissued 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, Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, February 27th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $15.50.

Rush Street Interactive Stock Up 3.5 %

Shares of NYSE RSI opened at $11.37 on Thursday. The firm’s 50-day moving average price is $12.77 and its 200-day moving average price is $12.53. Rush Street Interactive, Inc. has a 52-week low of $5.71 and a 52-week high of $16.78. The company has a market cap of $2.59 billion, a PE ratio of -568.50 and a beta of 1.92.

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.