Oppenheimer & Co. Inc. Invests $337,000 in Rush Street Interactive, Inc. (NYSE:RSI)

Oppenheimer & Co. Inc. acquired a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,570 shares of the company's stock, valued at approximately $337,000.

A number of other hedge funds have also modified their holdings of RSI. Los Angeles Capital Management LLC boosted its position in Rush Street Interactive by 11.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 183,767 shares of the company's stock worth $2,521,000 after acquiring an additional 18,335 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Rush Street Interactive by 8.6% in the fourth quarter. Bank of New York Mellon Corp now owns 213,320 shares of the company's stock worth $2,927,000 after purchasing an additional 16,958 shares in the last quarter. IFP Advisors Inc acquired a new position in Rush Street Interactive during the fourth quarter worth $436,000. Wealthspire Advisors LLC bought a new position in Rush Street Interactive in the fourth quarter valued at $206,000. Finally, Ieq Capital LLC acquired a new stake in Rush Street Interactive in the 4th quarter valued at $616,000. 24.78% of the stock is currently owned by institutional investors.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock traded down $0.55 on Monday, reaching $9.97. 154,992 shares of the stock were exchanged, compared to its average volume of 1,824,738. The firm has a market cap of $2.25 billion, a PE ratio of -494.25 and a beta of 1.92. The firm's 50 day moving average is $14.10 and its 200-day moving average is $12.37. Rush Street Interactive, Inc. has a one year low of $5.71 and a one year high of $16.78.

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Analyst Ratings Changes

A number of research firms have recently commented on RSI. Benchmark increased their price objective 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 note on Friday, February 28th. Wells Fargo & Company upped their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, February 27th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Rush Street Interactive in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $15.50.

Insiders Place Their Bets

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $11.67, for a total transaction of $816,900.00. Following the sale, the insider now owns 946,150 shares of the company's stock, 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 SEC, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 149,605 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 2,151,648 shares of the company's stock, valued at $31,435,577.28. The trade was a 6.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 850,597 shares of company stock worth $11,791,577 over the last three months. Insiders own 56.89% of the company's stock.

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.