William Blair Investment Management LLC Makes New $21.64 Million Investment in Rush Street Interactive, Inc. (NYSE:RSI)

William Blair Investment Management LLC acquired a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,576,898 shares of the company's stock, valued at approximately $21,635,000. William Blair Investment Management LLC owned 0.70% of Rush Street Interactive as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RSI. R Squared Ltd bought a new stake in Rush Street Interactive during the fourth quarter worth approximately $28,000. Heck Capital Advisors LLC bought a new position in shares of Rush Street Interactive during the 4th quarter valued at $34,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Rush Street Interactive during the 3rd quarter valued at $44,000. Point72 DIFC Ltd bought a new position in shares of Rush Street Interactive during the 3rd quarter valued at $70,000. Finally, Wealthspire Advisors LLC bought a new position in shares of Rush Street Interactive during the 4th quarter valued at $206,000. Institutional investors and hedge funds own 24.78% of the company's stock.

Insiders Place Their Bets

In related news, Director Judith Gold sold 118,001 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $13.55, for a total value of $1,598,913.55. Following the completion of the transaction, the director now owns 21,999 shares of the company's stock, valued at $298,086.45. This represents a 84.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard Todd Schwartz sold 149,605 shares of the stock in a transaction dated Wednesday, January 8th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 988,545 shares of company stock worth $13,174,489 in the last ninety days. Insiders own 56.89% of the company's stock.

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Rush Street Interactive Stock Up 0.1 %

NYSE RSI traded up $0.02 during midday trading on Friday, hitting $10.95. The company had a trading volume of 1,815,963 shares, compared to its average volume of 1,846,691. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -547.25 and a beta of 1.92. The firm has a fifty day simple moving average of $13.38 and a two-hundred day simple moving average of $12.42. Rush Street Interactive, Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $16.78.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Benchmark lifted their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Macquarie reiterated an "outperform" rating and issued a $16.00 target price on shares of Rush Street Interactive in a report on Thursday, February 27th. JMP Securities reiterated a "market perform" rating on shares of Rush Street Interactive in a report on Monday, January 6th. Susquehanna upgraded shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Finally, Jefferies Financial Group lifted their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $15.50.

Rush Street Interactive Company 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.