Rush Street Interactive, Inc. (NYSE:RSI) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 879,563 shares of the company’s stock after buying an additional 137,701 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.39% of Rush Street Interactive worth $12,068,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Millrace Asset Group Inc. purchased a new position in Rush Street Interactive in the 3rd quarter worth about $2,135,000. Principal Financial Group Inc. boosted its holdings in shares of Rush Street Interactive by 656.2% in the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock worth $843,000 after buying an additional 67,388 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Rush Street Interactive by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock worth $8,907,000 after acquiring an additional 344,276 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Rush Street Interactive during the third quarter valued at approximately $656,000. Finally, Legato Capital Management LLC purchased a new stake in shares of Rush Street Interactive in the 4th quarter valued at approximately $1,897,000. Institutional investors own 24.78% of the company’s stock.

Insider Activity

In other news, CFO Kyle Sauers sold 28,381 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $10.70, for a total value of $303,676.70. Following the sale, the chief financial officer now owns 470,323 shares in the company, valued at approximately $5,032,456.10. This trade represents a 5.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 109,567 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the completion of the sale, the chief executive officer now directly owns 2,082,376 shares of the company’s stock, valued at approximately $20,511,403.60. This trade represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 988,545 shares of company stock valued at $13,174,489 over the last 90 days. 56.89% of the stock is currently owned by company insiders.

Rush Street Interactive Stock Performance

RSI opened at $10.95 on Friday. The company has a market cap of $2.50 billion, a PE ratio of -547.25 and a beta of 1.92. The stock has a 50-day moving average of $13.38 and a 200-day moving average of $12.42. Rush Street Interactive, Inc. has a 52-week low of $5.71 and a 52-week high of $16.78.

Analyst Ratings Changes

Several research analysts recently weighed in on RSI shares. Benchmark upped their price target on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, February 27th. Jefferies Financial Group raised their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. 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 note on Thursday, February 27th. Finally, JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $15.50.

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.