Principal Financial Group Inc. Buys 67,388 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Principal Financial Group Inc. increased its holdings in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 656.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,658 shares of the company's stock after acquiring an additional 67,388 shares during the quarter. Principal Financial Group Inc.'s holdings in Rush Street Interactive were worth $843,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Rush Street Interactive by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company's stock worth $35,683,000 after acquiring an additional 85,736 shares during the last quarter. Renaissance Technologies LLC lifted its position in Rush Street Interactive by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company's stock valued at $14,425,000 after acquiring an additional 482,872 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Rush Street Interactive by 157.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company's stock valued at $13,666,000 after acquiring an additional 872,367 shares in the last quarter. Federated Hermes Inc. boosted its stake in Rush Street Interactive by 10.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,329,825 shares of the company's stock valued at $12,753,000 after purchasing an additional 130,217 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of Rush Street Interactive in the 2nd quarter worth $10,605,000. 24.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RSI has been the topic of several recent analyst reports. Jefferies Financial Group increased their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Needham & Company LLC increased their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Craig Hallum lifted their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Oppenheimer raised their price target on Rush Street Interactive from $10.00 to $14.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company upped their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Rush Street Interactive presently has an average rating of "Moderate Buy" and an average price target of $12.43.

Rush Street Interactive Stock Down 1.2 %

NYSE:RSI traded down $0.16 during trading hours on Friday, hitting $13.32. 2,322,203 shares of the stock traded hands, compared to its average volume of 2,798,858. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -666.00 and a beta of 1.78. Rush Street Interactive, Inc. has a 1 year low of $3.56 and a 1 year high of $13.71. The stock has a 50 day moving average price of $10.95 and a 200 day moving average price of $9.87.

Insider Buying and Selling

In related news, CEO Richard Todd Schwartz sold 103,905 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 1,703,578 shares in the company, valued at approximately $18,773,429.56. This represents a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Einar Roosileht sold 150,000 shares of Rush Street Interactive stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the completion of the sale, the insider now owns 809,260 shares in the company, valued at approximately $7,356,173.40. This represents a 15.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 429,839 shares of company stock valued at $4,508,971. Company 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.