IFP Advisors Inc Takes $436,000 Position in Rush Street Interactive, Inc. (NYSE:RSI)

IFP Advisors Inc purchased a new stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 31,777 shares of the company's stock, valued at approximately $436,000.

Several other institutional investors have also modified their holdings of the business. R Squared Ltd purchased a new position in Rush Street Interactive in the fourth quarter valued at $28,000. Heck Capital Advisors LLC acquired a new stake in Rush Street Interactive during the 4th quarter worth $34,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Rush Street Interactive during the 3rd quarter worth $44,000. Point72 DIFC Ltd purchased a new stake in shares of Rush Street Interactive in the third quarter valued at about $70,000. Finally, New York State Teachers Retirement System boosted 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 worth $75,000 after buying an additional 1,020 shares during the period. Institutional investors and hedge funds own 24.78% of the company's stock.

Wall Street Analysts Forecast Growth

RSI has been the topic of several analyst reports. JMP Securities reiterated a "market perform" rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Wells Fargo & Company lifted 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. Macquarie restated an "outperform" rating and set a $16.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. Susquehanna upgraded shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group increased their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. One equities 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 MarketBeat, Rush Street Interactive presently has a consensus rating of "Buy" and an average target price of $15.50.

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Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, insider Einar Roosileht sold 48,968 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total value of $687,510.72. Following the sale, the insider now owns 830,292 shares of the company's stock, valued at approximately $11,657,299.68. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 45,256 shares of Rush Street Interactive stock in a transaction on Monday, December 9th. The stock was sold at an average price of $13.51, for a total value of $611,408.56. Following the transaction, the chief executive officer now directly owns 1,762,227 shares of the company's stock, valued at $23,807,686.77. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 895,853 shares of company stock valued at $12,402,986 in the last ninety days. Corporate insiders own 56.89% of the company's stock.

Rush Street Interactive Stock Performance

RSI traded up $0.38 on Wednesday, hitting $11.67. 2,803,778 shares of the company were exchanged, compared to its average volume of 2,208,600. Rush Street Interactive, Inc. has a fifty-two week low of $5.22 and a fifty-two week high of $16.78. The firm has a market capitalization of $2.63 billion, a P/E ratio of -583.70 and a beta of 1.88. The business's fifty day moving average is $14.23 and its 200 day moving average is $12.34.

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.