Harbour Capital Advisors LLC Buys New Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Harbour Capital Advisors LLC bought a new stake in Rush Street Interactive, Inc. (NYSE:RSI) during the fourth quarter, Holdings Channel.com reports. The fund bought 57,710 shares of the company’s stock, valued at approximately $822,000.

Several other large investors have also modified their holdings of RSI. Millrace Asset Group Inc. purchased a new stake in shares of Rush Street Interactive during the 3rd quarter worth $2,135,000. Principal Financial Group Inc. raised its position in shares of Rush Street Interactive by 656.2% in the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after buying an additional 67,388 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Rush Street Interactive by 72.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock worth $8,907,000 after purchasing an additional 344,276 shares during the period. Acadian Asset Management LLC acquired a new stake in Rush Street Interactive in the 2nd quarter worth about $587,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Rush Street Interactive in the third quarter worth approximately $656,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rush Street Interactive news, COO Mattias Stetz sold 5,000 shares of Rush Street Interactive stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. Following the sale, the chief operating officer now owns 575,484 shares of the company’s stock, valued at $6,905,808. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 149,605 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $14.61, for a total transaction of $2,185,729.05. Following the transaction, the chief executive officer now owns 2,151,648 shares of the company’s stock, valued at approximately $31,435,577.28. This represents a 6.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 870,868 shares of company stock worth $11,437,217 over the last three months. 56.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group upped their target price on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Craig Hallum increased their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.50.

Rush Street Interactive Price Performance

Shares of RSI traded down $0.10 during mid-day trading on Monday, reaching $13.88. The company had a trading volume of 975,731 shares, compared to its average volume of 1,836,630. The company has a market capitalization of $3.13 billion, a P/E ratio of -694.00 and a beta of 1.88. The company’s 50-day moving average is $13.21 and its 200-day moving average is $11.09. Rush Street Interactive, Inc. has a twelve month low of $3.56 and a twelve month high of $14.96.

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.