Franklin Resources Inc. Takes $901,000 Position in Rush Street Interactive, Inc. (NYSE:RSI)

Franklin Resources Inc. acquired a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 79,357 shares of the company's stock, valued at approximately $901,000.

Other large investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Rush Street Interactive during the 3rd quarter valued at about $44,000. Point72 DIFC Ltd acquired a new stake in Rush Street Interactive in the third quarter valued at approximately $70,000. New York State Teachers Retirement System raised its stake in shares of Rush Street Interactive by 17.2% during the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company's stock valued at $75,000 after purchasing an additional 1,020 shares during the period. Quarry LP lifted its position in shares of Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company's stock worth $84,000 after purchasing an additional 1,200 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Rush Street Interactive by 425.6% in the third quarter. CWM LLC now owns 9,209 shares of the company's stock valued at $100,000 after purchasing an additional 7,457 shares during the period. Institutional investors and hedge funds own 24.78% of the company's stock.

Insider Buying and Selling at Rush Street Interactive

In related news, insider Paul Wierbicki sold 35,000 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.23, for a total transaction of $393,050.00. Following the completion of the sale, the insider now owns 139,982 shares of the company's stock, valued at $1,571,997.86. This represents a 20.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mattias Stetz sold 5,000 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $12.00, for a total value of $60,000.00. Following the completion of the transaction, the chief operating officer now owns 575,484 shares of the company's stock, valued at approximately $6,905,808. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 357,595 shares of company stock worth $4,224,380 over the last quarter. 56.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on RSI. Craig Hallum lifted their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price on Rush Street Interactive from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC increased their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.43.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock traded down $0.13 during trading on Monday, reaching $13.61. The company had a trading volume of 1,481,455 shares, compared to its average volume of 1,676,528. The company has a market cap of $3.07 billion, a price-to-earnings ratio of -680.50 and a beta of 1.88. Rush Street Interactive, Inc. has a fifty-two week low of $3.56 and a fifty-two week high of $14.92. The firm's fifty day moving average is $12.52 and its 200-day moving average is $10.76.

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.