Oppenheimer & Co. Inc. Takes Position in Rush Street Interactive, Inc. (NYSE:RSI)

Oppenheimer & Co. Inc. bought a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 24,570 shares of the company’s stock, valued at approximately $337,000.

Other large investors have also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Rush Street Interactive during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new stake in shares of Rush Street Interactive during the fourth quarter valued at approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Rush Street Interactive during the third quarter valued at approximately $44,000. Point72 DIFC Ltd bought a new stake in shares of Rush Street Interactive during the third quarter valued at approximately $70,000. Finally, New York State Teachers Retirement System increased its position in shares of 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 acquiring an additional 1,020 shares in the last quarter. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Price Performance

Shares of RSI stock opened at $10.56 on Friday. Rush Street Interactive, Inc. has a 1 year low of $5.67 and a 1 year high of $16.78. The firm has a fifty day moving average price of $14.16 and a 200-day moving average price of $12.32. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -527.75 and a beta of 1.92.

Insider Activity

In other news, insider Paul Wierbicki sold 7,500 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total transaction of $112,500.00. Following the completion of the sale, the insider now owns 139,387 shares of the company’s stock, valued at $2,090,805. The trade was a 5.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard Todd Schwartz sold 4,419 shares of Rush Street Interactive stock in a transaction on Monday, January 13th. The shares were sold at an average price of $13.75, for a total transaction of $60,761.25. Following the transaction, the chief executive officer now owns 2,392,587 shares in the company, valued at approximately $32,898,071.25. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 895,853 shares of company stock valued at $12,402,986 in the last 90 days. Company insiders own 56.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. Benchmark raised their price target 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 set a $16.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. Susquehanna raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group lifted their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $15.50.

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.