New York State Common Retirement Fund Buys 156,282 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

New York State Common Retirement Fund boosted its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 732.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,627 shares of the company's stock after purchasing an additional 156,282 shares during the period. New York State Common Retirement Fund owned about 0.08% of Rush Street Interactive worth $2,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in shares of Rush Street Interactive by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company's stock valued at $18,843,000 after purchasing an additional 92,314 shares during the last quarter. State Street Corp grew its position in Rush Street Interactive by 3.6% during the third quarter. State Street Corp now owns 1,612,892 shares of the company's stock valued at $17,500,000 after buying an additional 55,697 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in 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 valued at $8,907,000 after buying an additional 344,276 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Rush Street Interactive by 26.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 741,862 shares of the company's stock valued at $8,049,000 after buying an additional 154,785 shares during the last quarter. Finally, Algert Global LLC raised its position in Rush Street Interactive by 117.6% in the third quarter. Algert Global LLC now owns 510,361 shares of the company's stock worth $5,537,000 after acquiring an additional 275,788 shares during the period. Hedge funds and other institutional investors own 24.78% of the company's stock.

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Insider Buying and Selling

In related news, insider Einar Roosileht sold 70,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.67, for a total value of $816,900.00. Following the sale, the insider now directly owns 946,150 shares in the company, valued at approximately $11,041,570.50. The trade was a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 149,605 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total value of $2,185,729.05. Following the transaction, the chief executive officer now owns 2,151,648 shares of the company's stock, valued at $31,435,577.28. This represents a 6.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 895,853 shares of company stock worth $12,402,986. 56.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Macquarie restated an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research note on Thursday, February 27th. Wells Fargo & Company upped their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. JMP Securities reaffirmed a "market perform" rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Benchmark boosted their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group raised their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. One 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 stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $15.50.

Rush Street Interactive Stock Performance

RSI traded up $0.38 during trading on Wednesday, reaching $11.67. 2,803,778 shares of the company traded hands, compared to its average volume of 2,208,600. The company has a market cap of $2.63 billion, a P/E ratio of -583.70 and a beta of 1.88. Rush Street Interactive, Inc. has a 12-month low of $5.22 and a 12-month high of $16.78. The firm has a fifty day simple moving average of $14.23 and a 200 day simple moving average of $12.34.

About Rush Street Interactive

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.