Charles Schwab Investment Management Inc. Has $12.07 Million Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Charles Schwab Investment Management Inc. raised its holdings in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 879,563 shares of the company's stock after acquiring an additional 137,701 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.39% of Rush Street Interactive worth $12,068,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RSI. Geode Capital Management LLC boosted its holdings in Rush Street Interactive by 5.6% in the third quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company's stock worth $18,843,000 after purchasing an additional 92,314 shares in the last quarter. State Street Corp boosted its stake in shares of Rush Street Interactive by 3.6% during the 3rd quarter. State Street Corp now owns 1,612,892 shares of the company's stock worth $17,500,000 after acquiring an additional 55,697 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Rush Street Interactive by 72.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company's stock valued at $8,907,000 after acquiring an additional 344,276 shares during the last quarter. Algert Global LLC raised its stake in shares of Rush Street Interactive by 117.6% in the 3rd quarter. Algert Global LLC now owns 510,361 shares of the company's stock valued at $5,537,000 after acquiring an additional 275,788 shares in the last quarter. Finally, Calamos Advisors LLC lifted its holdings in Rush Street Interactive by 26.5% in the 4th quarter. Calamos Advisors LLC now owns 457,941 shares of the company's stock worth $6,283,000 after purchasing an additional 95,932 shares during the last quarter. 24.78% of the stock is owned by institutional investors.

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Rush Street Interactive Stock Down 0.9 %

RSI stock traded down $0.10 during trading on Tuesday, hitting $11.24. The company had a trading volume of 1,121,919 shares, compared to its average volume of 1,833,988. The firm has a 50-day moving average price of $13.33 and a 200-day moving average price of $12.48. Rush Street Interactive, Inc. has a 12 month low of $5.71 and a 12 month high of $16.78. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -562.00 and a beta of 1.92.

Wall Street Analyst Weigh In

RSI has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company 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. Macquarie reissued an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. Jefferies Financial Group upped their target price 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. Finally, Benchmark boosted their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $15.50.

Insiders Place Their Bets

In other Rush Street Interactive news, insider Paul Wierbicki sold 7,500 shares of Rush Street Interactive stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total transaction of $112,500.00. Following the transaction, the insider now directly owns 139,387 shares in the company, valued at approximately $2,090,805. The trade was a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kyle Sauers sold 28,381 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $10.70, for a total value of $303,676.70. Following the sale, the chief financial officer now directly owns 470,323 shares in the company, valued at approximately $5,032,456.10. This represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 988,545 shares of company stock valued at $13,174,489. Company insiders own 56.89% of the company's stock.

Rush Street Interactive 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.