Principal Financial Group Inc. boosted its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 656.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,658 shares of the company's stock after purchasing an additional 67,388 shares during the quarter. Principal Financial Group Inc.'s holdings in Rush Street Interactive were worth $843,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. New York State Teachers Retirement System grew its position in shares of Rush Street Interactive by 17.2% during the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company's stock valued at $75,000 after purchasing an additional 1,020 shares in the last quarter. Quarry LP grew its holdings in Rush Street Interactive by 15.9% during the 2nd quarter. Quarry LP now owns 8,762 shares of the company's stock valued at $84,000 after buying an additional 1,200 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in Rush Street Interactive by 7.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company's stock valued at $279,000 after buying an additional 1,745 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Rush Street Interactive in the 3rd quarter worth approximately $44,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Rush Street Interactive by 25.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,645 shares of the company's stock worth $275,000 after acquiring an additional 5,840 shares in the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.
Rush Street Interactive Trading Up 3.7 %
Shares of RSI stock traded up $0.51 during trading hours on Friday, reaching $14.25. 1,592,737 shares of the stock were exchanged, compared to its average volume of 2,006,019. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -712.50 and a beta of 1.88. Rush Street Interactive, Inc. has a 12-month low of $3.56 and a 12-month high of $14.92. The company's 50-day moving average price is $12.84 and its 200-day moving average price is $10.91.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Craig Hallum upped their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $12.43.
Check Out Our Latest Analysis on RSI
Insiders Place Their Bets
In other Rush Street Interactive news, insider Paul Wierbicki sold 35,000 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.23, for a total value of $393,050.00. Following the completion of the sale, the insider now directly owns 139,982 shares of the company's stock, valued at $1,571,997.86. The trade was a 20.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mattias Stetz sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. Following the transaction, the chief operating officer now directly owns 575,484 shares in the company, valued at approximately $6,905,808. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 542,106 shares of company stock valued at $6,757,094 over the last 90 days. Insiders own 56.89% of the company's stock.
About Rush Street Interactive
(
Free Report)
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.
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