Rush Street Interactive, Inc. (NYSE:RSI) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN increased its position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 32.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,551 shares of the company's stock after purchasing an additional 21,418 shares during the period. Wells Fargo & Company MN's holdings in Rush Street Interactive were worth $1,201,000 at the end of the most recent quarter.

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

Rush Street Interactive Stock Performance

Shares of RSI traded up $0.23 during midday trading on Friday, hitting $11.68. The company had a trading volume of 1,459,850 shares, compared to its average volume of 1,887,697. Rush Street Interactive, Inc. has a 1 year low of $7.91 and a 1 year high of $16.78. The firm has a market capitalization of $2.66 billion, a P/E ratio of -584.00 and a beta of 1.90. The company's 50-day simple moving average is $11.24 and its 200-day simple moving average is $12.66.

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

Insider Activity at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 109,567 shares of Rush Street Interactive stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the sale, the chief executive officer now directly owns 2,082,376 shares in the company, valued at $20,511,403.60. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Einar Roosileht sold 70,000 shares of the company's stock in a transaction on 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 completion of the transaction, the insider now owns 946,150 shares of the company's stock, valued at $13,634,021.50. This represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 750,758 shares of company stock valued at $8,865,603 over the last quarter. 56.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on RSI shares. Jefferies Financial Group boosted their target price on Rush Street Interactive from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Needham & Company LLC reiterated a "buy" rating and issued a $17.00 price objective on shares of Rush Street Interactive in a report on Thursday. Macquarie reissued an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Friday. Wells Fargo & Company lifted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, Susquehanna increased their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.63.

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.