Raymond James Financial Inc. Invests $1.28 Million in Rush Street Interactive, Inc. (NYSE:RSI)

Raymond James Financial Inc. acquired a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 93,410 shares of the company's stock, valued at approximately $1,282,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its stake in Rush Street Interactive by 0.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company's stock valued at $3,572,000 after buying an additional 1,087 shares in the last quarter. R Squared Ltd purchased a new stake in Rush Street Interactive during the 4th quarter worth about $28,000. Arizona State Retirement System boosted its stake in Rush Street Interactive by 11.0% in the 4th quarter. Arizona State Retirement System now owns 22,913 shares of the company's stock worth $314,000 after purchasing an additional 2,265 shares during the period. Rhumbline Advisers grew its holdings in Rush Street Interactive by 2.4% during the 4th quarter. Rhumbline Advisers now owns 103,426 shares of the company's stock valued at $1,419,000 after buying an additional 2,457 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in shares of Rush Street Interactive during the fourth quarter valued at about $34,000. 24.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 133,905 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $14.22, for a total value of $1,904,129.10. Following the transaction, the chief executive officer now owns 2,251,943 shares in the company, valued at approximately $32,022,629.46. This trade represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mattias Stetz sold 25,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $14.40, for a total transaction of $360,000.00. Following the sale, the chief operating officer now directly owns 561,089 shares of the company's stock, valued at $8,079,681.60. The trade was a 4.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 750,758 shares of company stock worth $8,865,603 over the last three months. Company insiders own 56.89% of the company's stock.

Rush Street Interactive Trading Up 2.0 %

Shares of Rush Street Interactive stock opened at $11.68 on Friday. The firm has a market capitalization of $2.66 billion, a PE ratio of -584.00 and a beta of 1.90. Rush Street Interactive, Inc. has a 12 month low of $7.91 and a 12 month high of $16.78. The business's 50-day moving average price is $11.24 and its 200-day moving average price is $12.66.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $262.41 million for the quarter, compared to analysts' expectations 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 business's quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $0.03 earnings per share. As a group, analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on RSI. Wells Fargo & Company boosted their price objective 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. JMP Securities restated a "market perform" rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Susquehanna increased their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a research report on Thursday. Needham & Company LLC reissued a "buy" rating and set a $17.00 price objective on shares of Rush Street Interactive in a research note on Thursday. Finally, Macquarie restated an "outperform" rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Friday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.63.

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.

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