Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 18.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 975,351 shares of the company’s stock after acquiring an additional 154,396 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Rush Street Interactive were worth $13,382,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Jupiter Asset Management Ltd. lifted its position in shares of Rush Street Interactive by 38.0% during the 4th quarter. Jupiter Asset Management Ltd. now owns 884,913 shares of the company’s stock worth $12,141,000 after buying an additional 243,562 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Rush Street Interactive in the 4th quarter valued at $454,000. AlphaQuest LLC raised its position in Rush Street Interactive by 184.7% in the 4th quarter. AlphaQuest LLC now owns 16,626 shares of the company’s stock valued at $228,000 after purchasing an additional 10,786 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Rush Street Interactive in the 4th quarter valued at $1,282,000. Finally, Arizona State Retirement System raised its position 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 valued at $314,000 after purchasing an additional 2,265 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock opened at $10.75 on Friday. Rush Street Interactive, Inc. has a one year low of $5.71 and a one year high of $16.78. The company has a market cap of $2.45 billion, a P/E ratio of -537.25 and a beta of 1.92. The firm has a fifty day moving average of $13.73 and a two-hundred day moving average of $12.36.

Insider Transactions at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 109,567 shares of the company’s 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 transaction, the chief executive officer now directly owns 2,082,376 shares of the company’s stock, valued at $20,511,403.60. This represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kyle Sauers sold 146,015 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $13.91, for a total transaction of $2,031,068.65. Following the transaction, the chief financial officer now directly owns 433 shares in the company, valued at approximately $6,023.03. This trade represents a 99.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 960,164 shares of company stock valued at $12,870,812 in the last ninety days. 56.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on RSI shares. Susquehanna upgraded shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Wells Fargo & Company upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Jefferies Financial Group upped their price objective 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. Finally, Needham & Company LLC restated a “buy” rating and set a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Rush Street Interactive presently has a consensus rating of “Buy” and a consensus price target of $15.50.

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.