Exchange Traded Concepts LLC Grows Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Exchange Traded Concepts LLC lifted its stake in Rush Street Interactive, Inc. (NYSE:RSI) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,380 shares of the company’s stock after purchasing an additional 1,087 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Rush Street Interactive were worth $3,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in Rush Street Interactive by 29.9% in the fourth quarter. SG Americas Securities LLC now owns 56,842 shares of the company’s stock worth $780,000 after buying an additional 13,095 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Rush Street Interactive in the 4th quarter worth $822,000. JPMorgan Chase & Co. raised its stake in shares of Rush Street Interactive by 155.6% in the third quarter. JPMorgan Chase & Co. now owns 265,412 shares of the company’s stock worth $2,880,000 after purchasing an additional 161,568 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Rush Street Interactive by 656.2% during the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after purchasing an additional 67,388 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in shares of Rush Street Interactive during the third quarter valued at $901,000. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock opened at $13.92 on Friday. The stock has a market capitalization of $3.14 billion, a PE ratio of -696.15 and a beta of 1.88. Rush Street Interactive, Inc. has a 1-year low of $5.11 and a 1-year high of $15.98. The company’s fifty day simple moving average is $13.93 and its 200-day simple moving average is $11.47.

Insider Activity at Rush Street Interactive

In other news, insider Paul Wierbicki sold 7,500 shares of Rush Street Interactive stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total transaction of $112,500.00. Following the transaction, the insider now directly owns 139,387 shares of the company’s stock, valued at $2,090,805. The trade was a 5.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Todd Schwartz sold 103,905 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the completion of the sale, the chief executive officer now directly owns 1,703,578 shares of the company’s stock, valued at $18,773,429.56. This represents a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 884,287 shares of company stock worth $11,632,978. Corporate insiders own 56.89% of the company’s stock.

Analyst Ratings Changes

RSI has been the subject of a number of recent analyst reports. Craig Hallum boosted 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 restated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Jefferies Financial Group lifted their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, Needham & Company LLC increased their price target on Rush Street Interactive from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, January 17th. 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

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.