Rush Street Interactive, Inc. (NYSE:RSI) Stake Raised by Federated Hermes Inc.

Federated Hermes Inc. raised its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,364,989 shares of the company's stock after purchasing an additional 28,121 shares during the quarter. Federated Hermes Inc. owned 0.60% of Rush Street Interactive worth $18,728,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC raised its holdings 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 valued at $3,572,000 after buying an additional 1,087 shares during the period. R Squared Ltd acquired a new stake in shares of Rush Street Interactive in the fourth quarter worth $28,000. Arizona State Retirement System raised 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 valued at $314,000 after acquiring an additional 2,265 shares during the period. Rhumbline Advisers lifted its holdings in shares of 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 in the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in Rush Street Interactive during the 4th quarter worth $34,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Richard Todd Schwartz sold 193,905 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $10.63, for a total transaction of $2,061,210.15. Following the sale, the chief executive officer now directly owns 1,599,186 shares in the company, valued at approximately $16,999,347.18. This represents a 10.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Wierbicki sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, January 14th. The stock was 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 directly owns 139,387 shares in the company, valued at approximately $2,090,805. This trade represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 755,281 shares of company stock valued at $8,946,577. Company insiders own 56.89% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on RSI shares. JMP Securities reiterated a "market perform" rating on shares of Rush Street Interactive in a report on Monday, January 6th. Benchmark boosted their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Susquehanna upgraded shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Wells Fargo & Company upped their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, Macquarie restated an "outperform" rating and set a $16.00 target price 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $15.50.

Rush Street Interactive Stock Up 1.5 %

Shares of RSI traded up $0.17 during mid-day trading on Monday, hitting $11.86. The stock had a trading volume of 147,658 shares, compared to its average volume of 1,893,456. Rush Street Interactive, Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $16.78. The company has a market cap of $2.70 billion, a PE ratio of -593.00 and a beta of 1.90. The company's fifty day simple moving average is $12.16 and its two-hundred day simple moving average is $12.57.

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.