Ieq Capital LLC Takes $616,000 Position in Rush Street Interactive, Inc. (NYSE:RSI)

Ieq Capital LLC bought a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 44,905 shares of the company’s stock, valued at approximately $616,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RSI. R Squared Ltd acquired a new position in Rush Street Interactive during the fourth quarter worth $28,000. Heck Capital Advisors LLC purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth about $34,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rush Street Interactive during the 3rd quarter worth about $44,000. Point72 DIFC Ltd purchased a new position in Rush Street Interactive in the 3rd quarter valued at about $70,000. Finally, New York State Teachers Retirement System lifted its stake in Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after buying an additional 1,020 shares in the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Richard Todd Schwartz sold 45,256 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $13.51, for a total value of $611,408.56. Following the transaction, the chief executive officer now directly owns 1,762,227 shares in the company, valued at approximately $23,807,686.77. This represents a 2.50 % 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, COO Mattias Stetz sold 25,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $14.50, for a total value of $362,500.00. Following the completion of the transaction, the chief operating officer now owns 550,484 shares of the company’s stock, valued at $7,982,018. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 825,853 shares of company stock valued at $11,655,336 in the last three months. 56.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on RSI. Susquehanna boosted their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday. Craig Hallum boosted their price target 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. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Jefferies Financial Group increased 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 report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.33.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock opened at $12.91 on Wednesday. The business’s 50 day moving average price is $14.42 and its 200 day moving average price is $12.25. The company has a market cap of $2.91 billion, a price-to-earnings ratio of -645.30 and a beta of 1.88. Rush Street Interactive, Inc. has a one year low of $5.22 and a one year high of $16.78.

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.