1,576,898 Shares in Rush Street Interactive, Inc. (NYSE:RSI) Bought by William Blair Investment Management LLC

William Blair Investment Management LLC purchased a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,576,898 shares of the company’s stock, valued at approximately $21,635,000. William Blair Investment Management LLC owned 0.70% of Rush Street Interactive at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Rush Street Interactive by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock worth $18,843,000 after purchasing an additional 92,314 shares during the period. State Street Corp boosted its position in Rush Street Interactive by 3.6% during the 3rd quarter. State Street Corp now owns 1,612,892 shares of the company’s stock worth $17,500,000 after purchasing an additional 55,697 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Rush Street Interactive by 18.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 975,351 shares of the company’s stock worth $13,382,000 after purchasing an additional 154,396 shares during the period. Jupiter Asset Management Ltd. boosted its position in Rush Street Interactive by 38.0% during the 4th quarter. Jupiter Asset Management Ltd. now owns 884,913 shares of the company’s stock worth $12,141,000 after purchasing an additional 243,562 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Rush Street Interactive by 18.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 879,563 shares of the company’s stock worth $12,068,000 after purchasing an additional 137,701 shares during the period. 24.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RSI has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. Wells Fargo & Company upped 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 report on Thursday, February 27th. Benchmark upped their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Macquarie reissued an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. Finally, Susquehanna raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $15.50.

Insider Activity

In other news, CEO Richard Todd Schwartz sold 149,605 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total value of $2,185,729.05. Following the sale, the chief executive officer now owns 2,151,648 shares in the company, valued at approximately $31,435,577.28. This represents a 6.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Judith Gold sold 118,001 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $13.55, for a total transaction of $1,598,913.55. Following the completion of the sale, the director now owns 21,999 shares in the company, valued at approximately $298,086.45. This trade represents a 84.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 988,545 shares of company stock worth $13,174,489. 56.89% of the stock is currently owned by corporate insiders.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock opened at $10.63 on Wednesday. The firm has a market cap of $2.43 billion, a PE ratio of -531.70 and a beta of 1.92. The firm’s 50-day simple moving average is $13.58 and its 200-day simple moving average is $12.43. Rush Street Interactive, Inc. has a 1 year low of $5.71 and a 1 year high of $16.78.

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.