Charles Schwab Investment Management Inc. Purchases 137,701 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Charles Schwab Investment Management Inc. raised its position in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 879,563 shares of the company’s stock after buying an additional 137,701 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Rush Street Interactive were worth $12,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of RSI. R Squared Ltd acquired a new stake in shares of Rush Street Interactive in the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new position in Rush Street Interactive in the 4th quarter valued at $34,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Rush Street Interactive in the 3rd quarter valued at $44,000. Point72 DIFC Ltd bought a new stake in shares of Rush Street Interactive during the third quarter worth $70,000. Finally, Wealthspire Advisors LLC bought a new stake in shares of Rush Street Interactive during the fourth quarter worth $206,000. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Performance

Shares of RSI opened at $10.95 on Friday. The firm has a market cap of $2.50 billion, a P/E ratio of -547.25 and a beta of 1.92. Rush Street Interactive, Inc. has a twelve month low of $5.71 and a twelve month high of $16.78. The firm’s 50 day moving average price is $13.38 and its two-hundred day moving average price is $12.42.

Analyst Ratings Changes

Several brokerages have weighed in on RSI. Benchmark boosted 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. Jefferies Financial Group boosted their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Macquarie reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research note on Thursday, February 27th. Susquehanna upgraded shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $15.50.

Insider Buying and Selling

In other Rush Street Interactive news, insider Einar Roosileht sold 48,968 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total value of $687,510.72. Following the completion of the transaction, the insider now directly owns 830,292 shares in the company, valued at $11,657,299.68. This trade represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Todd Schwartz sold 149,605 shares of the firm’s stock in a transaction on 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 completion of the transaction, 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. Over the last three months, insiders sold 988,545 shares of company stock worth $13,174,489. 56.89% of the stock is owned by corporate insiders.

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.