JPMorgan Chase & Co. Acquires 161,568 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

JPMorgan Chase & Co. boosted its stake in Rush Street Interactive, Inc. (NYSE:RSI) by 155.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 265,412 shares of the company’s stock after buying an additional 161,568 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.12% of Rush Street Interactive worth $2,880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Millrace Asset Group Inc. purchased a new stake in Rush Street Interactive during the third quarter worth about $2,135,000. Principal Financial Group Inc. raised its stake 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 valued at $843,000 after buying an additional 67,388 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Rush Street Interactive by 72.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock valued at $8,907,000 after buying an additional 344,276 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Rush Street Interactive during the 3rd quarter worth $656,000. Finally, GSA Capital Partners LLP increased its holdings in Rush Street Interactive by 42.6% in the 3rd quarter. GSA Capital Partners LLP now owns 279,367 shares of the company’s stock worth $3,031,000 after acquiring an additional 83,436 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Insider Activity at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 149,605 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total value of $2,185,729.05. Following the completion of the sale, the chief executive officer now owns 2,151,648 shares of the company’s stock, valued at approximately $31,435,577.28. This represents a 6.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Wierbicki sold 7,500 shares of Rush Street Interactive stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total transaction of $112,500.00. Following the completion of the transaction, the insider now owns 139,387 shares in the company, valued at approximately $2,090,805. The trade was a 5.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 884,287 shares of company stock valued at $11,632,978 over the last 90 days. 56.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Craig Hallum increased their target price 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. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Needham & Company LLC increased their target price on shares of Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group boosted their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Rush Street Interactive Price Performance

RSI stock opened at $15.02 on Monday. The firm has a 50 day simple moving average of $13.61 and a two-hundred day simple moving average of $11.28. The stock has a market cap of $3.39 billion, a PE ratio of -751.20 and a beta of 1.88. Rush Street Interactive, Inc. has a one year low of $4.45 and a one year high of $15.68.

Rush Street Interactive Company 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.