IFP Advisors Inc Buys Shares of 31,777 Rush Street Interactive, Inc. (NYSE:RSI)

IFP Advisors Inc bought a new stake in Rush Street Interactive, Inc. (NYSE:RSI) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 31,777 shares of the company’s stock, valued at approximately $436,000.

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

Rush Street Interactive Price Performance

NYSE:RSI opened at $11.66 on Friday. The firm has a market capitalization of $2.63 billion, a PE ratio of -583.00 and a beta of 1.88. The business’s fifty day moving average price is $14.35 and its 200 day moving average price is $12.29. Rush Street Interactive, Inc. has a 12 month low of $5.22 and a 12 month high of $16.78.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 45,256 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $13.51, for a total value of $611,408.56. Following the completion of the transaction, the chief executive officer now owns 1,762,227 shares in the company, valued at $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 available at this hyperlink. Also, insider Paul Wierbicki sold 7,500 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total transaction 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. This represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 825,853 shares of company stock valued at $11,655,336 over the last quarter. 56.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RSI has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday. Macquarie reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday. Susquehanna raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday. Finally, JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $15.50.

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.