Globeflex Capital L P Purchases Shares of 203,141 Rush Street Interactive, Inc. (NYSE:RSI)

Globeflex Capital L P acquired a new stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 203,141 shares of the company's stock, valued at approximately $2,787,000. Globeflex Capital L P owned 0.09% of Rush Street Interactive at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RSI. Millrace Asset Group Inc. purchased a new stake in Rush Street Interactive in the 3rd quarter valued at $2,135,000. Principal Financial Group Inc. raised its holdings in shares of Rush Street Interactive by 656.2% in the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company's stock valued at $843,000 after buying an additional 67,388 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of 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 buying an additional 344,276 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Rush Street Interactive during the third quarter worth about $656,000. Finally, Legato Capital Management LLC purchased a new position in shares of Rush Street Interactive during the fourth quarter worth about $1,897,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RSI has been the subject of several analyst reports. Benchmark upped their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 28th. JMP Securities restated a "market perform" rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Macquarie reiterated an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. Wells Fargo & Company upped their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Susquehanna upgraded shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $15.50.

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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 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 owns 2,151,648 shares of the company's stock, valued at approximately $31,435,577.28. This trade represents a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Wierbicki sold 7,500 shares of the company's stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total value of $112,500.00. Following the completion of the sale, the insider now owns 139,387 shares in the company, valued at $2,090,805. This represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 988,545 shares of company stock valued at $13,174,489. Corporate insiders own 56.89% of the company's stock.

Rush Street Interactive Price Performance

Shares of NYSE RSI traded up $0.43 during trading on Wednesday, hitting $11.09. 1,759,886 shares of the company were exchanged, compared to its average volume of 1,852,606. Rush Street Interactive, Inc. has a 1 year low of $5.71 and a 1 year high of $16.78. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -554.30 and a beta of 1.92. The firm's fifty day moving average price is $13.58 and its 200 day moving average price is $12.43.

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.