Charles Schwab Investment Management Inc. Grows Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

Charles Schwab Investment Management Inc. raised its stake in Rush Street Interactive, Inc. (NYSE:RSI) by 26.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 741,862 shares of the company’s stock after acquiring an additional 154,785 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Rush Street Interactive were worth $8,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RSI. New York State Teachers Retirement System lifted its stake in shares of Rush Street Interactive by 17.2% during 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. Quarry LP boosted its position in Rush Street Interactive by 15.9% during the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after buying an additional 1,200 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Rush Street Interactive in the 2nd quarter worth about $98,000. CWM LLC lifted its position in shares of Rush Street Interactive by 425.6% in the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after purchasing an additional 7,457 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of Rush Street Interactive in the 3rd quarter worth about $148,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rush Street Interactive

In related news, insider Paul Wierbicki sold 35,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.23, for a total value of $393,050.00. Following the completion of the sale, the insider now directly owns 139,982 shares of the company’s stock, valued at $1,571,997.86. This represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mattias Stetz sold 20,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $11.02, for a total transaction of $220,400.00. Following the completion of the sale, the chief operating officer now directly owns 580,484 shares of the company’s stock, valued at approximately $6,396,933.68. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 357,595 shares of company stock worth $4,224,380 over the last quarter. Insiders own 56.89% of the company’s stock.

Rush Street Interactive Stock Up 2.0 %

RSI stock opened at $13.51 on Wednesday. Rush Street Interactive, Inc. has a twelve month low of $3.56 and a twelve month high of $14.92. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -675.50 and a beta of 1.88. The firm’s fifty day simple moving average is $11.83 and its two-hundred day simple moving average is $10.33.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RSI shares. Jefferies Financial Group increased their price target on shares of Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Craig Hallum lifted their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC boosted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Rush Street Interactive has an average rating of “Moderate Buy” and an average target price of $12.43.

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.