Legato Capital Management LLC Makes New Investment in Rush Street Interactive, Inc. (NYSE:RSI)

Legato Capital Management LLC purchased a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 138,260 shares of the company’s stock, valued at approximately $1,897,000. Legato Capital Management LLC owned approximately 0.06% of Rush Street Interactive at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RSI. Geode Capital Management LLC lifted its position in Rush Street Interactive by 5.6% during the third quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock valued at $18,843,000 after purchasing an additional 92,314 shares during the last quarter. State Street Corp raised its position in shares of Rush Street Interactive by 3.6% during the 3rd quarter. State Street Corp now owns 1,612,892 shares of the company’s stock valued at $17,500,000 after buying an additional 55,697 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 acquiring an additional 344,276 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Rush Street Interactive by 26.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 741,862 shares of the company’s stock worth $8,049,000 after acquiring an additional 154,785 shares in the last quarter. Finally, Algert Global LLC increased its stake in Rush Street Interactive by 117.6% in the third quarter. Algert Global LLC now owns 510,361 shares of the company’s stock valued at $5,537,000 after acquiring an additional 275,788 shares during the last quarter. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Kyle Sauers sold 146,015 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 433 shares of the company’s stock, valued at approximately $6,023.03. This represents a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Todd Schwartz sold 149,605 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total value of $2,185,729.05. Following the sale, the chief executive officer now directly owns 2,151,648 shares of the company’s stock, valued at approximately $31,435,577.28. This trade represents a 6.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,052,258 shares of company stock valued at $14,193,769. 56.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Needham & Company LLC boosted their target price on Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group upped their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Craig Hallum upped their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Rush Street Interactive Stock Up 3.3 %

Shares of RSI opened at $14.92 on Wednesday. The stock has a 50 day simple moving average of $14.15 and a two-hundred day simple moving average of $11.88. Rush Street Interactive, Inc. has a 1 year low of $5.22 and a 1 year high of $15.98.

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.