Principal Financial Group Inc. Has $843,000 Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Principal Financial Group Inc. boosted its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 656.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 77,658 shares of the company’s stock after buying an additional 67,388 shares during the quarter. Principal Financial Group Inc.’s holdings in Rush Street Interactive were worth $843,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Rush Street Interactive during the third quarter worth about $44,000. Point72 DIFC Ltd bought a new position in Rush Street Interactive during the 3rd quarter worth approximately $70,000. New York State Teachers Retirement System lifted its position in shares of Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after purchasing an additional 1,020 shares during the period. Quarry LP boosted its stake in shares of Rush Street Interactive by 15.9% in the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the last quarter. Finally, CWM LLC increased its position in shares of Rush Street Interactive by 425.6% during the third quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after buying an additional 7,457 shares during the period. 24.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $12.00, for a total value of $60,000.00. Following the transaction, the chief operating officer now directly owns 575,484 shares of the company’s stock, valued at approximately $6,905,808. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Einar Roosileht sold 48,968 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total transaction of $687,510.72. Following the sale, the insider now directly owns 830,292 shares of the company’s stock, valued at approximately $11,657,299.68. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 542,106 shares of company stock valued at $6,757,094. Company insiders own 56.89% of the company’s stock.

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock opened at $14.25 on Friday. The business has a 50-day simple moving average of $12.84 and a 200 day simple moving average of $10.90. Rush Street Interactive, Inc. has a one year low of $3.56 and a one year high of $14.92. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -712.50 and a beta of 1.88.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RSI. 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 report on Thursday, October 31st. Craig Hallum upped their target price on 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 lifted their target price on Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.43.

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.