Northern Trust Corp Acquires 53,682 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Northern Trust Corp increased its stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 706,386 shares of the company's stock after acquiring an additional 53,682 shares during the quarter. Northern Trust Corp owned 0.31% of Rush Street Interactive worth $9,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new stake in Rush Street Interactive during the 4th quarter valued at $28,000. Heck Capital Advisors LLC bought a new stake in Rush Street Interactive during the 4th quarter valued at $34,000. WealthTrak Capital Management LLC bought a new stake in Rush Street Interactive during the 4th quarter valued at $71,000. NewEdge Advisors LLC bought a new stake in Rush Street Interactive during the 4th quarter valued at $148,000. Finally, State of Tennessee Department of Treasury bought a new stake in Rush Street Interactive during the 4th quarter valued at $167,000. Institutional investors own 24.78% of the company's stock.

Rush Street Interactive Stock Performance

NYSE:RSI traded up $0.07 on Friday, hitting $11.85. The stock had a trading volume of 614,199 shares, compared to its average volume of 1,855,330. The stock has a market cap of $2.71 billion, a P/E ratio of -592.25 and a beta of 1.88. Rush Street Interactive, Inc. has a 1 year low of $8.52 and a 1 year high of $16.78. The firm's fifty day simple moving average is $11.55 and its two-hundred day simple moving average is $12.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $262.41 million during 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 for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. Equities research analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Macquarie restated an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a research note on Friday, May 2nd. Benchmark upped their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Susquehanna upped their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a research note on Thursday, May 1st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Rush Street Interactive has an average rating of "Moderate Buy" and a consensus price target of $15.63.

Insider Activity at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 106,952 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $11.86, for a total transaction of $1,268,450.72. Following the completion of the transaction, the chief executive officer now owns 1,492,234 shares in the company, valued at approximately $17,697,895.24. This represents a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kyle Sauers sold 28,381 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $10.70, for a total transaction of $303,676.70. Following the transaction, the chief financial officer now owns 470,323 shares of the company's stock, valued at approximately $5,032,456.10. The trade was a 5.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 723,805 shares of company stock worth $7,957,809. 56.94% of the stock is owned by company insiders.

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.