Barclays PLC Boosts Stock Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

Barclays PLC raised its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 211,724 shares of the company’s stock after purchasing an additional 19,096 shares during the quarter. Barclays PLC owned 0.09% of Rush Street Interactive worth $2,905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RSI. Raymond James Financial Inc. purchased a new stake in shares of Rush Street Interactive in the fourth quarter valued at approximately $1,282,000. Renaissance Technologies LLC boosted its position in shares of Rush Street Interactive by 43.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,962,400 shares of the company’s stock worth $26,924,000 after purchasing an additional 598,300 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Rush Street Interactive by 21.4% during the 4th quarter. Legal & General Group Plc now owns 93,375 shares of the company’s stock worth $1,281,000 after purchasing an additional 16,456 shares during the period. Invesco Ltd. grew its stake in shares of Rush Street Interactive by 16.4% during the 4th quarter. Invesco Ltd. now owns 453,088 shares of the company’s stock worth $6,216,000 after purchasing an additional 63,917 shares during the period. Finally, Polymer Capital Management US LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter valued at about $410,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Susquehanna upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Benchmark raised their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Jefferies Financial Group boosted their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company raised their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. One equities research 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. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $15.50.

Rush Street Interactive Trading Up 0.9 %

Shares of RSI stock opened at $12.35 on Wednesday. Rush Street Interactive, Inc. has a twelve month low of $6.14 and a twelve month high of $16.78. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -617.50 and a beta of 1.90. The firm has a 50-day moving average price of $11.33 and a 200 day moving average price of $12.65.

Insider Activity

In related news, insider Einar Roosileht sold 70,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $14.41, for a total transaction of $1,008,700.00. Following the transaction, the insider now directly owns 946,150 shares in the company, valued at approximately $13,634,021.50. This represents a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Todd Schwartz sold 193,905 shares of Rush Street Interactive stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $10.63, for a total value of $2,061,210.15. Following the completion of the sale, the chief executive officer now owns 1,599,186 shares of the company’s stock, valued at $16,999,347.18. This trade represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 750,758 shares of company stock valued at $8,865,603 over the last 90 days. Insiders own 56.89% of the company’s stock.

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.