Rush Street Interactive, Inc. (NYSE:RSI) Shares Purchased by Algert Global LLC

Algert Global LLC raised its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 31.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 672,020 shares of the company's stock after acquiring an additional 161,659 shares during the period. Algert Global LLC owned approximately 0.30% of Rush Street Interactive worth $9,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Voleon Capital Management LP acquired a new stake in Rush Street Interactive in the 4th quarter valued at approximately $956,000. AQR Capital Management LLC grew its stake in shares of Rush Street Interactive by 53.1% in the fourth quarter. AQR Capital Management LLC now owns 647,803 shares of the company's stock valued at $8,888,000 after buying an additional 224,551 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Rush Street Interactive in the fourth quarter valued at $4,775,000. Northern Trust Corp raised its holdings in shares of Rush Street Interactive by 8.2% in the 4th quarter. Northern Trust Corp now owns 706,386 shares of the company's stock valued at $9,692,000 after buying an additional 53,682 shares during the period. Finally, Topline Capital Management LLC acquired a new position in Rush Street Interactive during the 4th quarter worth about $24,851,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RSI. Jefferies Financial Group increased their price target 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. Macquarie reissued an "outperform" rating and issued a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. Wells Fargo & Company upped their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Susquehanna lifted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a report on Thursday, May 1st. Finally, Benchmark upped their price target on Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.63.

Insider Activity at Rush Street Interactive

In other news, insider Einar Roosileht sold 70,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.67, for a total value of $816,900.00. Following the completion of the sale, the insider now directly owns 946,150 shares of the company's stock, valued at approximately $11,041,570.50. This represents a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mattias Stetz sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.73, for a total transaction of $293,250.00. Following the transaction, the chief operating officer now owns 531,089 shares in the company, valued at approximately $6,229,673.97. This trade represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 750,225 shares of company stock valued at $8,587,086 over the last ninety days. Insiders own 56.89% of the company's stock.

Rush Street Interactive Price Performance

Shares of RSI traded down $0.02 during mid-day trading on Friday, reaching $11.76. The company's stock had a trading volume of 909,523 shares, compared to its average volume of 1,876,241. Rush Street Interactive, Inc. has a 12-month low of $8.27 and a 12-month high of $16.78. The stock has a market cap of $2.68 billion, a PE ratio of -588.00 and a beta of 1.88. The company's 50 day moving average is $11.23 and its 200 day moving average is $12.67.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. Rush Street Interactive had a negative net margin of 0.16% and a negative return on equity of 3.73%. The firm's revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 earnings per share. As a group, sell-side analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

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.