Arrowstreet Capital Limited Partnership Buys 1,018,889 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Arrowstreet Capital Limited Partnership raised its position in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 62.0% in the fourth quarter, HoldingsChannel reports. The fund owned 2,663,246 shares of the company’s stock after acquiring an additional 1,018,889 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Rush Street Interactive were worth $36,540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its holdings in Rush Street Interactive by 0.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock valued at $3,572,000 after buying an additional 1,087 shares in the last quarter. R Squared Ltd bought a new stake in shares of Rush Street Interactive in the fourth quarter valued at about $28,000. Arizona State Retirement System grew its stake in shares of Rush Street Interactive by 11.0% in the fourth quarter. Arizona State Retirement System now owns 22,913 shares of the company’s stock valued at $314,000 after acquiring an additional 2,265 shares in the last quarter. Rhumbline Advisers increased its position in Rush Street Interactive by 2.4% during the fourth quarter. Rhumbline Advisers now owns 103,426 shares of the company’s stock worth $1,419,000 after acquiring an additional 2,457 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in Rush Street Interactive in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Rush Street Interactive Stock Up 3.5 %

NYSE:RSI opened at $11.37 on Thursday. Rush Street Interactive, Inc. has a twelve month low of $5.71 and a twelve month high of $16.78. The stock’s 50-day simple moving average is $12.77 and its 200 day simple moving average is $12.53. The firm has a market capitalization of $2.59 billion, a PE ratio of -568.50 and a beta of 1.92.

Analysts Set New Price Targets

Several brokerages have recently commented on RSI. Susquehanna raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Jefferies Financial Group raised their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Macquarie reiterated an “outperform” rating and set a $16.00 target price on shares of Rush Street Interactive in a research report on Thursday, February 27th. 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. Finally, Benchmark upped their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $15.50.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, CFO Kyle Sauers sold 28,381 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $10.70, for a total transaction of $303,676.70. Following the sale, the chief financial officer now owns 470,323 shares of the company’s stock, valued at approximately $5,032,456.10. The trade was a 5.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Wierbicki sold 7,500 shares of the 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 transaction, the insider now owns 139,387 shares of the company’s stock, valued at $2,090,805. The trade was a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 804,034 shares of company stock valued at $10,641,775. 56.89% of the stock is currently owned by insiders.

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.