Zurcher Kantonalbank Zurich Cantonalbank Makes New Investment in Rush Street Interactive, Inc. (NYSE:RSI)

Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,088 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its position in shares of Rush Street Interactive by 17.2% in 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 during the period. Quarry LP boosted 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 acquiring an additional 1,200 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Rush Street Interactive in the second quarter valued at about $98,000. CWM LLC boosted its position in shares of Rush Street Interactive by 425.6% in the third quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after acquiring an additional 7,457 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of Rush Street Interactive in the third quarter valued at about $148,000. 24.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC boosted 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 report on Thursday, October 31st. Craig Hallum boosted their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group boosted their price target on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.43.

Insider Transactions at Rush Street Interactive

In other news, insider Paul Wierbicki sold 7,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.00, for a total value of $105,000.00. Following the completion of the transaction, the insider now owns 139,482 shares of the company’s stock, valued at approximately $1,952,748. This represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mattias Stetz sold 25,000 shares of the stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 312,339 shares of company stock valued at $3,612,971. 56.89% of the stock is currently owned by insiders.

Rush Street Interactive Stock Down 3.3 %

RSI stock opened at $13.24 on Tuesday. The company has a market cap of $2.99 billion, a PE ratio of -661.75 and a beta of 1.88. Rush Street Interactive, Inc. has a 52 week low of $3.56 and a 52 week high of $14.92. The business has a 50-day simple moving average of $11.76 and a 200 day simple moving average of $10.30.

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.