Wells Fargo & Company MN Raises Position in Rush Street Interactive, Inc. (NYSE:RSI)

Wells Fargo & Company MN lifted its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 32.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,551 shares of the company’s stock after purchasing an additional 21,418 shares during the period. Wells Fargo & Company MN’s holdings in Rush Street Interactive were worth $1,201,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Barclays PLC grew its stake in Rush Street Interactive by 178.6% in the 3rd quarter. Barclays PLC now owns 192,628 shares of the company’s stock valued at $2,090,000 after buying an additional 123,486 shares in the last quarter. Franklin Resources Inc. purchased a new position in Rush Street Interactive in the 3rd quarter valued at approximately $901,000. Principal Financial Group Inc. grew its stake in Rush Street Interactive by 656.2% in the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after buying an additional 67,388 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Rush Street Interactive by 155.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 265,412 shares of the company’s stock valued at $2,880,000 after buying an additional 161,568 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new position in Rush Street Interactive in the 4th quarter valued at approximately $822,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Down 0.2 %

RSI opened at $12.22 on Tuesday. The business’s fifty day simple moving average is $11.39 and its 200 day simple moving average is $12.65. Rush Street Interactive, Inc. has a 52 week low of $6.06 and a 52 week high of $16.78. The stock has a market cap of $2.79 billion, a PE ratio of -611.00 and a beta of 1.90.

Analyst Ratings Changes

A number of research analysts recently weighed in on RSI shares. Wells Fargo & Company lifted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Susquehanna upgraded shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Jefferies Financial Group lifted their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Needham & Company LLC restated a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. Finally, JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Rush Street Interactive presently has an average rating of “Buy” and a consensus target price of $15.50.

Insider Transactions at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 133,905 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $14.22, for a total transaction of $1,904,129.10. Following the transaction, the chief executive officer now directly owns 2,251,943 shares in the company, valued at approximately $32,022,629.46. This represents a 5.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Einar Roosileht sold 70,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $14.41, for a total value of $1,008,700.00. Following the transaction, the insider now owns 946,150 shares in the company, valued at $13,634,021.50. This trade represents a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 750,758 shares of company stock worth $8,865,603. 56.89% of the stock is currently owned by corporate insiders.

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.