Arizona State Retirement System Purchases 2,265 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Arizona State Retirement System boosted its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,913 shares of the company’s stock after buying an additional 2,265 shares during the period. Arizona State Retirement System’s holdings in Rush Street Interactive were worth $314,000 as of its most recent SEC filing.

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

Rush Street Interactive Price Performance

NYSE RSI opened at $10.75 on Friday. Rush Street Interactive, Inc. has a 1 year low of $5.71 and a 1 year high of $16.78. The stock has a market capitalization of $2.45 billion, a PE ratio of -537.25 and a beta of 1.92. The business’s 50-day moving average is $13.73 and its 200 day moving average is $12.38.

Insider Transactions at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 4,419 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $13.75, for a total value of $60,761.25. Following the completion of the sale, the chief executive officer now directly owns 2,392,587 shares of the company’s stock, valued at approximately $32,898,071.25. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kyle Sauers sold 146,015 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $13.91, for a total transaction of $2,031,068.65. Following the transaction, the chief financial officer now owns 433 shares in the company, valued at $6,023.03. This represents a 99.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 960,164 shares of company stock worth $12,870,812. 56.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on RSI. Susquehanna upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Wells Fargo & Company increased their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price target on shares of Rush Street Interactive in a research note on Thursday, February 27th. Finally, Benchmark lifted their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Rush Street Interactive has a consensus rating of “Buy” and a consensus price target of $15.50.

Rush Street Interactive 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.