Wells Fargo & Company MN Has $1.20 Million Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Wells Fargo & Company MN grew its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 32.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,551 shares of the company's stock after acquiring an additional 21,418 shares during the quarter. Wells Fargo & Company MN's holdings in Rush Street Interactive were worth $1,201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in shares of Rush Street Interactive during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new position in Rush Street Interactive in the 4th quarter worth $34,000. WealthTrak Capital Management LLC purchased a new position in Rush Street Interactive in the 4th quarter valued at about $71,000. LPL Financial LLC purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth about $173,000. Finally, Wealthspire Advisors LLC purchased a new position in Rush Street Interactive in the fourth quarter valued at about $206,000. Institutional investors and hedge funds own 24.78% of the company's stock.

Analyst Ratings Changes

RSI has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday, February 27th. Wells Fargo & Company raised their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Benchmark upped their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Susquehanna upgraded Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group boosted their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Rush Street Interactive currently has an average rating of "Buy" and an average price target of $15.50.

Insider Activity

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $14.41, for a total transaction of $1,008,700.00. Following the sale, the insider now directly owns 946,150 shares in the company, valued at approximately $13,634,021.50. The trade was a 6.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mattias Stetz sold 25,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 561,089 shares of the company's stock, valued at $8,079,681.60. This trade represents a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 750,758 shares of company stock valued at $8,865,603. 56.89% of the stock is currently owned by company insiders.

Rush Street Interactive Trading Down 1.9 %

RSI traded down $0.23 during trading on Wednesday, reaching $12.13. 2,262,607 shares of the company were exchanged, compared to its average volume of 1,908,138. Rush Street Interactive, Inc. has a 52 week low of $6.18 and a 52 week high of $16.78. The firm has a 50 day moving average of $11.33 and a 200 day moving average of $12.65. The stock has a market cap of $2.77 billion, a P/E ratio of -606.50 and a beta of 1.90.

Rush Street Interactive 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.