Arrowstreet Capital Limited Partnership Grows Stock Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

Arrowstreet Capital Limited Partnership increased its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 62.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,663,246 shares of the company's stock after buying an additional 1,018,889 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.18% of Rush Street Interactive worth $36,540,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RSI. R Squared Ltd purchased a new stake in shares of Rush Street Interactive during the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new position in Rush Street Interactive in the fourth quarter valued at approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Rush Street Interactive during the third quarter valued at $44,000. Point72 DIFC Ltd purchased a new stake in Rush Street Interactive in the third quarter worth $70,000. Finally, WealthTrak Capital Management LLC bought a new stake in shares of Rush Street Interactive in the fourth quarter valued at $71,000. Institutional investors own 24.78% of the company's stock.

Rush Street Interactive Stock Up 3.1 %

NYSE:RSI traded up $0.31 during mid-day trading on Monday, hitting $10.53. 2,049,047 shares of the stock traded hands, compared to its average volume of 1,884,448. The business's 50-day moving average price is $12.55 and its 200 day moving average price is $12.55. The company has a market cap of $2.40 billion, a PE ratio of -526.60 and a beta of 1.90. Rush Street Interactive, Inc. has a 12-month low of $5.71 and a 12-month high of $16.78.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Susquehanna upgraded shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. JMP Securities reissued a "market perform" rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Jefferies Financial Group upped their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research note on Thursday, February 27th. 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 company has a consensus rating of "Buy" and a consensus price target of $15.50.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 149,605 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $14.61, for a total value of $2,185,729.05. Following the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Einar Roosileht sold 60,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $10.69, for a total value of $641,400.00. Following the transaction, the insider now directly owns 956,150 shares of the company's stock, valued at $10,221,243.50. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 884,034 shares of company stock valued at $11,499,975 in the last three months. Company insiders own 56.89% of the company's stock.

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.