Alliancebernstein L.P. Reduces Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Alliancebernstein L.P. trimmed its position in Rush Street Interactive, Inc. (NYSE:RSI) by 17.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 357,099 shares of the company’s stock after selling 74,800 shares during the period. Alliancebernstein L.P. owned about 0.16% of Rush Street Interactive worth $4,899,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Rush Street Interactive during the 4th quarter valued at about $28,000. Heck Capital Advisors LLC purchased a new stake in Rush Street Interactive in the fourth quarter valued at approximately $34,000. WealthTrak Capital Management LLC acquired a new position in Rush Street Interactive during the fourth quarter worth approximately $71,000. LPL Financial LLC purchased a new position in Rush Street Interactive during the fourth quarter worth approximately $173,000. Finally, Wealthspire Advisors LLC acquired a new position in shares of Rush Street Interactive in the 4th quarter valued at $206,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, 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 transaction of $112,500.00. Following the transaction, the insider now directly owns 139,387 shares in the company, valued at $2,090,805. This represents a 5.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard Todd Schwartz sold 133,905 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $14.22, for a total transaction of $1,904,129.10. Following the completion of the sale, the chief executive officer now owns 2,251,943 shares in the company, valued at approximately $32,022,629.46. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 755,281 shares of company stock valued at $8,946,577. 56.89% of the stock is currently owned by insiders.

Rush Street Interactive Price Performance

Rush Street Interactive stock opened at $11.72 on Monday. Rush Street Interactive, Inc. has a 12-month low of $5.71 and a 12-month high of $16.78. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -586.05 and a beta of 1.90. The firm’s fifty day moving average price is $12.16 and its 200 day moving average price is $12.57.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Macquarie reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research report on Thursday, February 27th. Wells Fargo & Company lifted their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Benchmark boosted their target price on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 28th. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Jefferies Financial Group boosted their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $15.50.

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.