1,576,898 Shares in Rush Street Interactive, Inc. (NYSE:RSI) Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC acquired a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,576,898 shares of the company’s stock, valued at approximately $21,635,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Counterpoint Mutual Funds LLC raised its stake in Rush Street Interactive by 42.0% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 36,883 shares of the company’s stock worth $506,000 after acquiring an additional 10,908 shares during the period. Globeflex Capital L P bought a new position in Rush Street Interactive in the 4th quarter worth about $2,787,000. Monimus Capital Management LP bought a new position in Rush Street Interactive in the 4th quarter worth about $1,259,000. Swiss National Bank grew its position in Rush Street Interactive by 10.8% in the 4th quarter. Swiss National Bank now owns 155,300 shares of the company’s stock worth $2,131,000 after purchasing an additional 15,200 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Rush Street Interactive by 18.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 975,351 shares of the company’s stock worth $13,382,000 after purchasing an additional 154,396 shares during the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

Rush Street Interactive Price Performance

Rush Street Interactive stock opened at $10.63 on Wednesday. The firm has a 50 day simple moving average of $13.58 and a 200-day simple moving average of $12.43. The stock has a market capitalization of $2.43 billion, a PE ratio of -531.70 and a beta of 1.92. Rush Street Interactive, Inc. has a 12-month low of $5.71 and a 12-month high of $16.78.

Analyst Ratings Changes

RSI has been the subject of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and issued a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday, February 27th. Macquarie restated an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research report on Thursday, February 27th. Susquehanna upgraded shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group upped their target price 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. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $15.50.

Insider Activity

In related news, insider Einar Roosileht sold 48,968 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total transaction of $687,510.72. Following the completion of the sale, the insider now directly owns 830,292 shares in the company, valued at approximately $11,657,299.68. This trade represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Judith Gold sold 118,001 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $13.55, for a total transaction of $1,598,913.55. Following the sale, the director now owns 21,999 shares of the company’s stock, valued at $298,086.45. The trade was a 84.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 988,545 shares of company stock worth $13,174,489 over the last three months. Corporate insiders own 56.89% of the company’s stock.

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.