Victory Capital Management Inc. Acquires New Position in Rush Street Interactive, Inc. (NYSE:RSI)

Victory Capital Management Inc. bought a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 50,303 shares of the company’s stock, valued at approximately $546,000.

Other hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System raised its position in shares of Rush Street Interactive by 17.2% during the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after acquiring an additional 1,020 shares in the last quarter. Quarry LP raised its holdings in shares of Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after purchasing an additional 1,200 shares during the period. CWM LLC raised its holdings in shares of Rush Street Interactive by 425.6% during the third quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after purchasing an additional 7,457 shares during the period. Principal Financial Group Inc. bought a new position in shares of Rush Street Interactive in the 2nd quarter worth about $98,000. Finally, nVerses Capital LLC acquired a new position in shares of Rush Street Interactive in the 3rd quarter valued at about $148,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Insider Activity at Rush Street Interactive

In related news, COO Mattias Stetz sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the transaction, the chief operating officer now owns 575,484 shares in the company, valued at $6,905,808. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 103,905 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $11.02, for a total value of $1,145,033.10. Following the sale, the chief executive officer now directly owns 1,703,578 shares in the company, valued at approximately $18,773,429.56. The trade was a 5.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 287,339 shares of company stock worth $3,250,471 over the last ninety days. 56.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RSI. Oppenheimer raised their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Needham & Company LLC boosted their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group upped their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company raised their target price on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Craig Hallum upped their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rush Street Interactive presently has an average rating of “Moderate Buy” and a consensus price target of $12.43.

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock opened at $14.21 on Friday. Rush Street Interactive, Inc. has a 1-year low of $3.56 and a 1-year high of $14.60. The company has a market capitalization of $3.21 billion, a P/E ratio of -710.50 and a beta of 1.78. The business’s fifty day moving average price is $11.20 and its two-hundred day moving average price is $9.98.

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.