Rush Street Interactive, Inc. (NYSE:RSI) Stock Position Decreased by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 17.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 357,099 shares of the company’s stock after selling 74,800 shares during the period. Alliancebernstein L.P.’s holdings in Rush Street Interactive were worth $4,899,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its holdings in shares of Rush Street Interactive by 62.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company’s stock worth $36,540,000 after acquiring an additional 1,018,889 shares during the period. WealthTrak Capital Management LLC bought a new stake in shares of Rush Street Interactive during the fourth quarter valued at approximately $71,000. Pictet Asset Management Holding SA acquired a new position in shares of Rush Street Interactive during the fourth quarter worth approximately $216,000. Norges Bank bought a new position in Rush Street Interactive in the 4th quarter worth approximately $10,429,000. Finally, JPMorgan Chase & Co. increased its position in Rush Street Interactive by 53.0% in the 4th quarter. JPMorgan Chase & Co. now owns 406,094 shares of the company’s stock valued at $5,572,000 after acquiring an additional 140,682 shares during the period. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Rush Street Interactive Stock Up 3.8 %

Shares of NYSE RSI opened at $11.72 on Monday. Rush Street Interactive, Inc. has a 52-week low of $5.71 and a 52-week high of $16.78. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -586.05 and a beta of 1.90. The stock’s fifty day simple moving average is $12.16 and its 200 day simple moving average is $12.57.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Macquarie reissued an “outperform” rating and issued a $16.00 price target on shares of Rush Street Interactive in a research note on Thursday, February 27th. Jefferies Financial Group raised their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Wells Fargo & Company increased their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday, February 27th. Finally, 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. One 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, the company has an average rating of “Buy” and an average price target of $15.50.

Insiders Place Their Bets

In related news, insider Paul Wierbicki sold 7,500 shares of the company’s stock in a transaction on 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 approximately $2,090,805. The trade was a 5.11 % 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, CEO Richard Todd Schwartz sold 193,905 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $10.63, for a total value of $2,061,210.15. Following the sale, the chief executive officer now owns 1,599,186 shares of the company’s stock, valued at $16,999,347.18. The trade was a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 755,281 shares of company stock worth $8,946,577. Company insiders own 56.89% of the company’s stock.

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.