Geode Capital Management LLC Acquires 92,314 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Geode Capital Management LLC grew its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 5.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,736,259 shares of the company’s stock after purchasing an additional 92,314 shares during the quarter. Geode Capital Management LLC owned about 0.77% of Rush Street Interactive worth $18,843,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rush Street Interactive during the 3rd quarter valued at about $44,000. Point72 DIFC Ltd bought a new stake in Rush Street Interactive during the third quarter worth approximately $70,000. New York State Teachers Retirement System grew its holdings in Rush Street Interactive by 17.2% during the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after purchasing an additional 1,020 shares during the last quarter. Quarry LP raised its position in shares of Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in shares of Rush Street Interactive in the second quarter worth $98,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their price target on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Craig Hallum boosted their price objective on 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.43.

Insider Buying and Selling

In related news, COO Mattias Stetz sold 25,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $14.50, for a total transaction of $362,500.00. Following the completion of the sale, the chief operating officer now directly owns 550,484 shares of the company’s stock, valued at $7,982,018. This trade represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Wierbicki sold 35,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.23, for a total value of $393,050.00. Following the completion of the transaction, the insider now directly owns 139,982 shares in the company, valued at approximately $1,571,997.86. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 357,595 shares of company stock worth $4,224,380 in the last 90 days. 56.89% of the stock is owned by company insiders.

Rush Street Interactive Trading Down 0.6 %

RSI opened at $13.74 on Friday. The stock’s 50 day simple moving average is $12.52 and its 200-day simple moving average is $10.75. The stock has a market cap of $3.10 billion, a PE ratio of -687.00 and a beta of 1.88. Rush Street Interactive, Inc. has a 1 year low of $3.56 and a 1 year high of $14.92.

About Rush Street Interactive

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.