Teacher Retirement System of Texas Sells 14,181 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Teacher Retirement System of Texas trimmed its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 14.4% in the 4th quarter, Holdings Channel reports. The firm owned 84,637 shares of the company’s stock after selling 14,181 shares during the period. Teacher Retirement System of Texas’ holdings in Rush Street Interactive were worth $1,161,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RSI. William Blair Investment Management LLC bought a new stake in Rush Street Interactive in the 4th quarter worth approximately $21,635,000. Jupiter Asset Management Ltd. boosted its stake in shares of Rush Street Interactive by 38.0% in the 4th quarter. Jupiter Asset Management Ltd. now owns 884,913 shares of the company’s stock worth $12,141,000 after buying an additional 243,562 shares during the last quarter. Globeflex Capital L P bought a new stake in shares of Rush Street Interactive in the fourth quarter worth $2,787,000. JPMorgan Chase & Co. increased its position in Rush Street Interactive by 155.6% during the third quarter. JPMorgan Chase & Co. now owns 265,412 shares of the company’s stock valued at $2,880,000 after acquiring an additional 161,568 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Rush Street Interactive by 732.2% in the fourth quarter. New York State Common Retirement Fund now owns 177,627 shares of the company’s stock valued at $2,437,000 after acquiring an additional 156,282 shares during the period. Institutional investors own 24.78% of the company’s stock.

Insiders Place Their Bets

In other news, insider Einar Roosileht sold 48,968 shares of the company’s stock in a transaction dated 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 owns 830,292 shares of the company’s stock, valued at $11,657,299.68. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kyle Sauers sold 28,381 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $10.70, for a total value of $303,676.70. Following the sale, the chief financial officer now owns 470,323 shares of the company’s stock, valued at $5,032,456.10. This represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 988,545 shares of company stock worth $13,174,489. Corporate insiders own 56.89% of the company’s stock.

Rush Street Interactive Price Performance

Shares of RSI stock opened at $10.80 on Friday. Rush Street Interactive, Inc. has a one year low of $5.71 and a one year high of $16.78. The company’s fifty day moving average price is $13.01 and its 200-day moving average price is $12.51. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of -539.80 and a beta of 1.92.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RSI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. Benchmark increased their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “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 report on Monday, January 6th. Macquarie restated an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research note on Thursday, February 27th. Finally, Susquehanna upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.50.

About Rush Street Interactive

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.