Victory Capital Management Inc. Lowers Position in Rush Street Interactive, Inc. (NYSE:RSI)

Victory Capital Management Inc. decreased its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 79.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,133 shares of the company's stock after selling 40,170 shares during the quarter. Victory Capital Management Inc.'s holdings in Rush Street Interactive were worth $139,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Algert Global LLC grew its position in Rush Street Interactive by 117.6% during the 3rd quarter. Algert Global LLC now owns 510,361 shares of the company's stock worth $5,537,000 after acquiring an additional 275,788 shares during the last quarter. Millrace Asset Group Inc. bought a new stake in shares of Rush Street Interactive during the third quarter worth about $2,135,000. JPMorgan Chase & Co. increased its stake in shares of Rush Street Interactive by 155.6% in the third quarter. JPMorgan Chase & Co. now owns 265,412 shares of the company's stock valued at $2,880,000 after buying an additional 161,568 shares during the period. New York State Common Retirement Fund increased its stake in shares of Rush Street Interactive by 732.2% in the fourth quarter. New York State Common Retirement Fund now owns 177,627 shares of the company's stock valued at $2,437,000 after buying an additional 156,282 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Rush Street Interactive by 26.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 741,862 shares of the company's stock valued at $8,049,000 after buying an additional 154,785 shares during the last quarter. Institutional investors own 24.78% of the company's stock.

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Rush Street Interactive Trading Up 0.7 %

NYSE RSI traded up $0.08 on Thursday, hitting $10.99. 1,230,737 shares of the company were exchanged, compared to its average volume of 2,088,833. The company has a market cap of $2.51 billion, a PE ratio of -549.25 and a beta of 1.92. The stock has a fifty day moving average of $13.17 and a 200-day moving average of $12.49. Rush Street Interactive, Inc. has a 12 month low of $5.71 and a 12 month high of $16.78.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RSI shares. Needham & Company LLC restated a "buy" rating and issued a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. Jefferies Financial Group raised their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. JMP Securities reissued a "market perform" rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Wells Fargo & Company upped their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, 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. One equities research 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $15.50.

Insider Activity

In related news, insider Paul Wierbicki sold 7,500 shares of Rush Street Interactive stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total value of $112,500.00. Following the completion of the sale, the insider now owns 139,387 shares of the company's stock, valued at approximately $2,090,805. This trade represents a 5.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 149,605 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $14.61, for a total transaction of $2,185,729.05. Following the transaction, the chief executive officer now owns 2,151,648 shares in the company, valued at approximately $31,435,577.28. The trade was a 6.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 988,545 shares of company stock worth $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.