State Street Corp Acquires 55,697 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

State Street Corp grew its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,612,892 shares of the company's stock after buying an additional 55,697 shares during the quarter. State Street Corp owned 0.71% of Rush Street Interactive worth $17,500,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Millrace Asset Group Inc. purchased a new stake in Rush Street Interactive during the 3rd quarter valued at $2,135,000. Principal Financial Group Inc. raised its stake in shares of Rush Street Interactive by 656.2% during the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company's stock valued at $843,000 after acquiring an additional 67,388 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Rush Street Interactive by 72.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company's stock worth $8,907,000 after purchasing an additional 344,276 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Rush Street Interactive in the second quarter worth about $587,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Rush Street Interactive during the 3rd quarter valued at about $656,000. Hedge funds and other institutional investors own 24.78% of the company's stock.

Analyst Ratings Changes

RSI has been the topic of a number of recent analyst reports. Craig Hallum lifted their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Needham & Company LLC upped their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their target price on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Rush Street Interactive presently has a consensus rating of "Moderate Buy" and an average target price of $12.43.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 103,905 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the completion of the sale, the chief executive officer now directly owns 1,703,578 shares in the company, valued at approximately $18,773,429.56. This trade represents a 5.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mattias Stetz sold 25,000 shares of Rush Street Interactive stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $14.50, for a total transaction of $362,500.00. Following the completion of the transaction, the chief operating officer now directly owns 550,484 shares of the company's stock, valued at $7,982,018. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 357,595 shares of company stock worth $4,224,380. 56.89% of the stock is owned by insiders.

Rush Street Interactive Stock Performance

Shares of RSI traded up $0.13 during mid-day trading on Wednesday, reaching $13.62. The company had a trading volume of 965,346 shares, compared to its average volume of 1,680,846. Rush Street Interactive, Inc. has a 52 week low of $3.56 and a 52 week high of $14.92. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -681.00 and a beta of 1.88. The firm has a 50-day moving average price of $12.41 and a 200 day moving average price of $10.68.

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.