Rush Street Interactive, Inc. (NYSE:RSI) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 53.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 406,094 shares of the company's stock after purchasing an additional 140,682 shares during the quarter. JPMorgan Chase & Co. owned 0.18% of Rush Street Interactive worth $5,572,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Rush Street Interactive during the fourth quarter worth $28,000. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive during the fourth quarter worth about $34,000. LPL Financial LLC acquired a new stake in shares of Rush Street Interactive during the fourth quarter worth about $173,000. Wealthspire Advisors LLC purchased a new stake in shares of Rush Street Interactive in the 4th quarter valued at about $206,000. Finally, AlphaQuest LLC lifted its holdings in shares of Rush Street Interactive by 184.7% in the 4th quarter. AlphaQuest LLC now owns 16,626 shares of the company's stock valued at $228,000 after purchasing an additional 10,786 shares during the last quarter. Institutional investors and hedge funds own 24.78% of the company's stock.

Analysts Set New Price Targets

RSI has been the topic of a number of research reports. Susquehanna upgraded shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Benchmark upped their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 28th. Macquarie restated an "outperform" rating and issued a $16.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. Jefferies Financial Group upped their price target on Rush Street Interactive from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Finally, Needham & Company LLC restated a "buy" rating and set a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $15.50.

Rush Street Interactive Stock Down 3.3 %

NYSE RSI traded down $0.39 during mid-day trading on Monday, hitting $11.37. The stock had a trading volume of 817,084 shares, compared to its average volume of 1,898,292. Rush Street Interactive, Inc. has a 52-week low of $5.71 and a 52-week high of $16.78. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -568.50 and a beta of 1.90. The company has a 50 day simple moving average of $11.89 and a 200 day simple moving average of $12.61.

Insider Buying and Selling at Rush Street Interactive

In other news, insider Einar Roosileht sold 70,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $14.41, for a total value of $1,008,700.00. Following the completion of the transaction, the insider now owns 946,150 shares of the company's stock, valued at $13,634,021.50. The trade was a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kyle Sauers sold 28,381 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $10.70, for a total value of $303,676.70. Following the sale, the chief financial officer now owns 470,323 shares in the company, valued at $5,032,456.10. This trade represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 746,281 shares of company stock valued at $8,811,577 over the last quarter. Corporate 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.