93,410 Shares in Rush Street Interactive, Inc. (NYSE:RSI) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Rush Street Interactive, Inc. (NYSE:RSI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 93,410 shares of the company’s stock, valued at approximately $1,282,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RSI. R Squared Ltd purchased a new stake in shares of Rush Street Interactive in the 4th quarter worth about $28,000. Heck Capital Advisors LLC purchased a new stake in Rush Street Interactive in the 4th quarter valued at approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Rush Street Interactive during the third quarter worth $44,000. Point72 DIFC Ltd purchased a new position in Rush Street Interactive during the third quarter worth $70,000. Finally, Quarry LP raised its holdings in shares of Rush Street Interactive by 80.6% in the third quarter. Quarry LP now owns 15,824 shares of the company’s stock worth $172,000 after acquiring an additional 7,062 shares during the last quarter. 24.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RSI shares. Susquehanna raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Jefferies Financial Group lifted 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. Macquarie reissued an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a research note on Thursday, February 27th. Wells Fargo & Company lifted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $15.50.

Rush Street Interactive Price Performance

Shares of RSI stock opened at $11.37 on Thursday. Rush Street Interactive, Inc. has a 12-month low of $5.71 and a 12-month high of $16.78. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -568.50 and a beta of 1.92. The business has a 50 day simple moving average of $12.77 and a 200 day simple moving average of $12.53.

Insider Activity

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $14.41, for a total transaction of $1,008,700.00. Following the sale, the insider now owns 946,150 shares in the company, valued at approximately $13,634,021.50. The trade was a 6.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $2,185,729.05. Following the sale, the chief executive officer now directly owns 2,151,648 shares of the company’s stock, valued at $31,435,577.28. This represents a 6.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 804,034 shares of company stock worth $10,641,775. 56.89% of the stock is owned by company insiders.

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.