Norges Bank Invests $10.43 Million in Rush Street Interactive, Inc. (NYSE:RSI)

Norges Bank acquired a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 760,100 shares of the company's stock, valued at approximately $10,429,000. Norges Bank owned 0.34% of Rush Street Interactive as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Rush Street Interactive by 53.0% in the fourth quarter. JPMorgan Chase & Co. now owns 406,094 shares of the company's stock valued at $5,572,000 after purchasing an additional 140,682 shares during the period. Emerald Advisers LLC bought a new stake in Rush Street Interactive during the 4th quarter valued at $9,967,000. Vanguard Group Inc. boosted its position in Rush Street Interactive by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock worth $117,943,000 after acquiring an additional 1,056,583 shares during the period. LPL Financial LLC acquired a new position in shares of Rush Street Interactive during the fourth quarter valued at $173,000. Finally, Sei Investments Co. raised its stake in shares of Rush Street Interactive by 59.2% during the fourth quarter. Sei Investments Co. now owns 333,425 shares of the company's stock valued at $4,575,000 after purchasing an additional 124,045 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Benchmark upped their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Susquehanna upgraded Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, February 27th. Macquarie reiterated an "outperform" rating and issued a $16.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. Finally, Wells Fargo & Company raised 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. One investment 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 data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $15.50.

Insider Activity

In other Rush Street Interactive news, insider Einar Roosileht sold 9,300 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $12.00, for a total value of $111,600.00. Following the transaction, the insider now owns 946,850 shares in the company, valued at approximately $11,362,200. This represents a 0.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 4,419 shares of the business's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $13.75, for a total transaction of $60,761.25. Following the transaction, the chief executive officer now owns 2,392,587 shares in the company, valued at approximately $32,898,071.25. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 759,700 shares of company stock worth $9,007,338 over the last quarter. Corporate insiders own 56.89% of the company's stock.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI traded up $0.43 during mid-day trading on Friday, hitting $11.72. The stock had a trading volume of 1,228,628 shares, compared to its average volume of 1,900,362. Rush Street Interactive, Inc. has a 12-month low of $5.71 and a 12-month high of $16.78. The company has a market cap of $2.67 billion, a PE ratio of -586.05 and a beta of 1.90. The company's 50 day moving average is $12.16 and its 200-day moving average is $12.57.

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.