JPMorgan Chase & Co. Purchases 161,568 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

JPMorgan Chase & Co. lifted its stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 155.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,412 shares of the company's stock after purchasing an additional 161,568 shares during the quarter. JPMorgan Chase & Co. owned about 0.12% of Rush Street Interactive worth $2,880,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Rush Street Interactive during the 3rd quarter valued at about $44,000. Point72 DIFC Ltd purchased a new stake in shares of Rush Street Interactive during the third quarter valued at approximately $70,000. New York State Teachers Retirement System grew its holdings 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 buying an additional 1,020 shares during the last quarter. Quarry LP increased 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 valued at $84,000 after acquiring an additional 1,200 shares in the last quarter. Finally, CWM LLC raised its holdings in Rush Street Interactive by 425.6% in the 3rd quarter. CWM LLC now owns 9,209 shares of the company's stock worth $100,000 after acquiring an additional 7,457 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company's stock.

Rush Street Interactive Stock Up 0.6 %

Shares of Rush Street Interactive stock traded up $0.09 during trading hours on Monday, reaching $15.02. 1,014,118 shares of the stock traded hands, compared to its average volume of 1,393,099. Rush Street Interactive, Inc. has a one year low of $4.45 and a one year high of $15.68. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -751.20 and a beta of 1.88. The company has a 50 day moving average price of $13.61 and a 200 day moving average price of $11.28.

Analyst Ratings Changes

Several research firms have recently weighed in on RSI. Craig Hallum boosted their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Needham & Company LLC boosted their target price on Rush Street Interactive from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday. Jefferies Financial Group raised their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Finally, JMP Securities reissued a "market perform" rating on shares of Rush Street Interactive in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Rush Street Interactive currently has an average rating of "Moderate Buy" and a consensus target price of $14.00.

Insider Buying and Selling

In other news, CEO Richard Todd Schwartz sold 103,905 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $11.02, for a total value of $1,145,033.10. Following the completion of the sale, the chief executive officer now directly owns 1,703,578 shares in the company, valued at $18,773,429.56. This represents a 5.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.23, for a total value of $393,050.00. Following the transaction, the insider now owns 139,982 shares in the company, valued at $1,571,997.86. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 884,287 shares of company stock valued at $11,632,978. 56.89% of the stock is owned by insiders.

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.