Bank of New York Mellon Corp Purchases 16,958 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Bank of New York Mellon Corp raised its position in Rush Street Interactive, Inc. (NYSE:RSI) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 213,320 shares of the company’s stock after acquiring an additional 16,958 shares during the quarter. Bank of New York Mellon Corp’s holdings in Rush Street Interactive were worth $2,927,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Rush Street Interactive by 5.6% in the third quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock valued at $18,843,000 after purchasing an additional 92,314 shares in the last quarter. State Street Corp grew its stake in shares of Rush Street Interactive by 3.6% in the 3rd quarter. State Street Corp now owns 1,612,892 shares of the company’s stock valued at $17,500,000 after buying an additional 55,697 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Rush Street Interactive by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock valued at $8,907,000 after buying an additional 344,276 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Rush Street Interactive by 26.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 741,862 shares of the company’s stock valued at $8,049,000 after buying an additional 154,785 shares during the last quarter. Finally, Algert Global LLC increased its position in shares of Rush Street Interactive by 117.6% during the third quarter. Algert Global LLC now owns 510,361 shares of the company’s stock valued at $5,537,000 after acquiring an additional 275,788 shares during the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

Rush Street Interactive Stock Down 2.0 %

Shares of Rush Street Interactive stock opened at $10.90 on Friday. The business has a 50-day moving average price of $13.44 and a 200-day moving average price of $12.41. Rush Street Interactive, Inc. has a twelve month low of $5.71 and a twelve month high of $16.78. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -544.75 and a beta of 1.92.

Insider Buying and Selling

In other news, CEO Richard Todd Schwartz sold 149,605 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $14.61, for a total value 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 approximately $31,435,577.28. The trade was a 6.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Einar Roosileht sold 48,968 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total value of $687,510.72. Following the sale, the insider now owns 830,292 shares of the company’s stock, valued at approximately $11,657,299.68. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 988,545 shares of company stock worth $13,174,489. Insiders own 56.89% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on RSI. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Macquarie reiterated an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a report on Thursday, February 27th. Benchmark lifted their price target on Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Susquehanna raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $15.50.

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.