Rush Street Interactive, Inc. (NYSE:RSI) Shares Purchased by Hood River Capital Management LLC

Hood River Capital Management LLC raised its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 575,156 shares of the company's stock after purchasing an additional 71,227 shares during the quarter. Hood River Capital Management LLC owned 0.25% of Rush Street Interactive worth $7,891,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Rush Street Interactive in the 4th quarter valued at $28,000. Heck Capital Advisors LLC purchased a new stake in Rush Street Interactive during the fourth quarter worth about $34,000. WealthTrak Capital Management LLC acquired a new stake in shares of Rush Street Interactive during the fourth quarter worth about $71,000. NewEdge Advisors LLC purchased a new position in shares of Rush Street Interactive in the fourth quarter valued at approximately $148,000. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Rush Street Interactive in the fourth quarter valued at approximately $167,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RSI. Wells Fargo & Company increased their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Jefferies Financial Group increased their price objective on 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 set a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, February 27th. Macquarie restated an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a report on Thursday, February 27th. Finally, Susquehanna upgraded Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Rush Street Interactive currently has an average rating of "Buy" and an average target price of $15.50.

Insider Transactions at Rush Street Interactive

In other news, COO Mattias Stetz sold 20,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $10.84, for a total value of $216,800.00. Following the completion of the sale, the chief operating officer now directly owns 426,051 shares of the company's stock, valued at approximately $4,618,392.84. The trade was a 4.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Einar Roosileht sold 9,300 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $12.00, for a total value of $111,600.00. Following the transaction, the insider now owns 946,850 shares in the company, valued at $11,362,200. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 746,281 shares of company stock worth $8,811,577. 56.89% of the stock is currently owned by insiders.

Rush Street Interactive Stock Up 1.6 %

Shares of RSI opened at $11.78 on Thursday. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -589.00 and a beta of 1.90. Rush Street Interactive, Inc. has a 52-week low of $5.71 and a 52-week high of $16.78. The stock has a 50 day moving average price of $11.63 and a 200 day moving average price of $12.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.