Canada Pension Plan Investment Board Buys 73,700 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Canada Pension Plan Investment Board lifted its holdings in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 146.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 123,900 shares of the company's stock after acquiring an additional 73,700 shares during the quarter. Canada Pension Plan Investment Board owned 0.05% of Rush Street Interactive worth $1,700,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its stake in Rush Street Interactive by 3.6% in the third quarter. State Street Corp now owns 1,612,892 shares of the company's stock worth $17,500,000 after purchasing an additional 55,697 shares during the last quarter. Barclays PLC lifted its stake in shares of Rush Street Interactive by 178.6% in the 3rd quarter. Barclays PLC now owns 192,628 shares of the company's stock valued at $2,090,000 after acquiring an additional 123,486 shares during the last quarter. Geode Capital Management LLC grew its position in 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 worth $18,843,000 after acquiring an additional 92,314 shares during the last quarter. Franklin Resources Inc. purchased a new position in Rush Street Interactive in the 3rd quarter worth approximately $901,000. Finally, Principal Financial Group Inc. lifted its position in Rush Street Interactive by 656.2% in the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company's stock valued at $843,000 after purchasing an additional 67,388 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company's stock.

Insider Transactions at Rush Street Interactive

In related news, COO Mattias Stetz sold 3,777 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $12.08, for a total transaction of $45,626.16. Following the completion of the transaction, the chief operating officer now owns 421,051 shares of the company's stock, valued at $5,086,296.08. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Todd Schwartz sold 193,905 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $10.63, for a total value of $2,061,210.15. Following the completion of the sale, the chief executive officer now directly owns 1,599,186 shares in the company, valued at approximately $16,999,347.18. This represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 750,758 shares of company stock valued at $8,865,603 in the last three months. 56.89% of the stock is currently owned by company insiders.

Rush Street Interactive Price Performance

RSI stock traded up $0.25 during midday trading on Friday, hitting $12.26. The stock had a trading volume of 738,270 shares, compared to its average volume of 1,907,083. The business has a 50-day moving average of $11.46 and a two-hundred day moving average of $12.63. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -613.00 and a beta of 1.90. Rush Street Interactive, Inc. has a 52-week low of $6.06 and a 52-week high of $16.78.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. 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. Susquehanna raised Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Finally, JMP Securities reiterated a "market perform" rating on shares of Rush Street Interactive in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $15.50.

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.