Emerald Advisers LLC Makes New $9.97 Million Investment in Rush Street Interactive, Inc. (NYSE:RSI)

Emerald Advisers LLC bought a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 726,489 shares of the company's stock, valued at approximately $9,967,000. Emerald Advisers LLC owned approximately 0.32% of Rush Street Interactive as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Rush Street Interactive by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock worth $117,943,000 after acquiring an additional 1,056,583 shares during the period. LPL Financial LLC bought a new position in shares of Rush Street Interactive during the fourth quarter worth approximately $173,000. Sei Investments Co. raised its position in shares of Rush Street Interactive by 59.2% in the fourth quarter. Sei Investments Co. now owns 333,425 shares of the company's stock valued at $4,575,000 after buying an additional 124,045 shares in the last quarter. American Century Companies Inc. raised its holdings in Rush Street Interactive by 45.6% in the 4th quarter. American Century Companies Inc. now owns 147,747 shares of the company's stock valued at $2,027,000 after acquiring an additional 46,293 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Rush Street Interactive in the 4th quarter valued at $424,000. Institutional investors own 24.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RSI shares. Macquarie reissued an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Thursday, February 27th. Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. JMP Securities restated a "market perform" rating on shares of Rush Street Interactive in a report on Monday, January 6th. Needham & Company LLC reissued a "buy" rating and set a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, February 27th. Finally, Benchmark boosted their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, February 28th. One research 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 company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $15.50.

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Rush Street Interactive Stock Performance

Shares of RSI traded up $0.08 on Thursday, reaching $10.99. The stock had a trading volume of 1,230,768 shares, compared to its average volume of 1,832,557. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -549.25 and a beta of 1.92. The company has a 50-day simple moving average of $13.09 and a 200-day simple moving average of $12.48. Rush Street Interactive, Inc. has a 12-month low of $5.71 and a 12-month high of $16.78.

Insiders Place Their Bets

In other news, CEO Richard Todd Schwartz sold 4,419 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.75, for a total transaction of $60,761.25. Following the sale, the chief executive officer now owns 2,392,587 shares in the company, valued at $32,898,071.25. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Einar Roosileht sold 48,968 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total transaction of $687,510.72. Following the transaction, the insider now owns 830,292 shares in the company, valued at $11,657,299.68. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 988,545 shares of company stock worth $13,174,489. 56.89% of the stock is currently owned by company insiders.

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.