Los Angeles Capital Management LLC Has $2.52 Million Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Los Angeles Capital Management LLC raised its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 11.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 183,767 shares of the company’s stock after purchasing an additional 18,335 shares during the period. Los Angeles Capital Management LLC’s holdings in Rush Street Interactive were worth $2,521,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RSI. New York State Teachers Retirement System lifted its stake in 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 buying an additional 1,020 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Rush Street Interactive by 0.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock valued at $3,572,000 after purchasing an additional 1,087 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its position in Rush Street Interactive by 7.3% during the third quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company’s stock valued at $279,000 after buying an additional 1,745 shares during the period. R Squared Ltd bought a new stake in Rush Street Interactive in the 4th quarter valued at about $28,000. Finally, Rhumbline Advisers boosted its stake in Rush Street Interactive by 2.4% in the 4th quarter. Rhumbline Advisers now owns 103,426 shares of the company’s stock worth $1,419,000 after purchasing an additional 2,457 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

Insider Activity

In related news, CEO Richard Todd Schwartz sold 149,605 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,151,648 shares in the company, valued at approximately $31,435,577.28. This represents a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mattias Stetz sold 25,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $14.40, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 561,089 shares of the company’s stock, valued at $8,079,681.60. This represents a 4.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 825,853 shares of company stock worth $11,655,336 over the last three months. 56.89% of the stock is currently owned by corporate insiders.

Rush Street Interactive Price Performance

Shares of RSI stock opened at $11.27 on Friday. The business has a fifty day moving average of $14.39 and a 200 day moving average of $12.25. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of -563.70 and a beta of 1.88. Rush Street Interactive, Inc. has a 1 year low of $5.22 and a 1 year high of $16.78.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $17.00 price objective on shares of Rush Street Interactive in a report on Thursday. Craig Hallum upped their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday. Macquarie reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a report on Thursday. Finally, Jefferies Financial Group boosted their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Rush Street Interactive presently has a consensus rating of “Moderate Buy” and an average price target of $15.71.

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.