Caprock Group LLC Takes Position in Rush Street Interactive, Inc. (NYSE:RSI)

Caprock Group LLC purchased a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 385,077 shares of the company’s stock, valued at approximately $4,178,000. Caprock Group LLC owned about 0.17% of Rush Street Interactive as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. New York State Teachers Retirement System grew its stake in shares of Rush Street Interactive by 17.2% in the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after buying an additional 1,020 shares in the last quarter. Quarry LP grew its position in shares of Rush Street Interactive by 15.9% in the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after acquiring an additional 1,200 shares during the period. CWM LLC grew its position in shares of Rush Street Interactive by 425.6% in the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after acquiring an additional 7,457 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Rush Street Interactive during the 2nd quarter worth about $98,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Rush Street Interactive by 13,627.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RSI shares. Wells Fargo & Company lifted their price target on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Jefferies Financial Group boosted their target price on Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Craig Hallum increased their price objective on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Oppenheimer raised their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.43.

Rush Street Interactive Stock Performance

RSI stock opened at $11.26 on Tuesday. Rush Street Interactive, Inc. has a 52 week low of $3.56 and a 52 week high of $12.46. The company has a market capitalization of $2.54 billion, a PE ratio of -562.75 and a beta of 1.78. The company’s 50-day simple moving average is $10.72 and its 200 day simple moving average is $9.74.

Insiders Place Their Bets

In related news, insider Einar Roosileht sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $9.09, for a total value of $1,363,500.00. Following the completion of the sale, the insider now directly owns 809,260 shares in the company, valued at approximately $7,356,173.40. The trade was a 15.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Wierbicki sold 35,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.23, for a total value of $393,050.00. Following the transaction, the insider now owns 139,982 shares in the company, valued at approximately $1,571,997.86. This trade represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 210,934 shares of company stock worth $2,075,538 in the last quarter. Corporate insiders own 56.89% of the company’s stock.

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.