Legato Capital Management LLC Invests $1.90 Million in Rush Street Interactive, Inc. (NYSE:RSI)

Legato Capital Management LLC bought a new stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 138,260 shares of the company's stock, valued at approximately $1,897,000. Legato Capital Management LLC owned 0.06% of Rush Street Interactive as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Millrace Asset Group Inc. acquired a new position in shares of Rush Street Interactive during the third quarter worth approximately $2,135,000. Principal Financial Group Inc. lifted its position in shares of Rush Street Interactive by 656.2% during the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company's stock worth $843,000 after purchasing an additional 67,388 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Rush Street Interactive by 72.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company's stock worth $8,907,000 after purchasing an additional 344,276 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Rush Street Interactive during the third quarter worth approximately $656,000. Finally, GSA Capital Partners LLP lifted its position in shares of Rush Street Interactive by 42.6% during the third quarter. GSA Capital Partners LLP now owns 279,367 shares of the company's stock worth $3,031,000 after purchasing an additional 83,436 shares in the last quarter. Institutional investors own 24.78% of the company's stock.

Rush Street Interactive Price Performance

RSI traded up $0.96 during mid-day trading on Friday, hitting $16.69. The stock had a trading volume of 2,639,045 shares, compared to its average volume of 1,648,963. The stock's fifty day simple moving average is $14.26 and its 200-day simple moving average is $11.97. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -834.70 and a beta of 1.88. Rush Street Interactive, Inc. has a 1-year low of $5.22 and a 1-year high of $16.74.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Craig Hallum upped their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Needham & Company LLC increased their price objective on shares of Rush Street Interactive from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday, January 17th. JMP Securities restated a "market perform" rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Jefferies Financial Group increased their price objective 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $14.00.

Insider Transactions at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 4,419 shares of Rush Street Interactive stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $13.75, for a total transaction of $60,761.25. Following the completion of the sale, the chief executive officer now owns 2,392,587 shares of the company's stock, valued at approximately $32,898,071.25. The trade was a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Einar Roosileht sold 48,968 shares of Rush Street Interactive stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total transaction of $687,510.72. Following the sale, the insider now directly owns 830,292 shares of the company's stock, valued at $11,657,299.68. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 928,353 shares of company stock valued at $12,828,336 over the last quarter. Corporate insiders own 56.89% of the company's stock.

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.