Massachusetts Financial Services Co. MA Trims Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Massachusetts Financial Services Co. MA lessened its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 2.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 235,410 shares of the company’s stock after selling 7,027 shares during the period. Massachusetts Financial Services Co. MA owned 0.10% of Rush Street Interactive worth $3,230,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Rush Street Interactive by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock valued at $117,943,000 after acquiring an additional 1,056,583 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Rush Street Interactive by 62.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company’s stock valued at $36,540,000 after purchasing an additional 1,018,889 shares in the last quarter. Geode Capital Management LLC raised its stake in Rush Street Interactive by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,793,273 shares of the company’s stock valued at $24,610,000 after purchasing an additional 57,014 shares in the last quarter. State Street Corp lifted its position in Rush Street Interactive by 3.6% during the third quarter. State Street Corp now owns 1,612,892 shares of the company’s stock valued at $17,500,000 after purchasing an additional 55,697 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in Rush Street Interactive in the 4th quarter worth approximately $21,635,000. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock opened at $10.53 on Tuesday. Rush Street Interactive, Inc. has a one year low of $5.71 and a one year high of $16.78. The business’s 50 day simple moving average is $12.55 and its two-hundred day simple moving average is $12.55. The stock has a market capitalization of $2.40 billion, a P/E ratio of -526.60 and a beta of 1.90.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RSI. Macquarie reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research note on Thursday, February 27th. Susquehanna upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $15.50.

Insider Buying and Selling at Rush Street Interactive

In related news, insider Paul Wierbicki sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total transaction of $112,500.00. Following the completion of the transaction, the insider now owns 139,387 shares in the company, valued at $2,090,805. This represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Todd Schwartz sold 33,142 shares of Rush Street Interactive stock in a transaction on Friday, January 10th. The shares were sold at an average price of $13.98, for a total transaction of $463,325.16. Following the completion of the sale, the chief executive officer now owns 2,118,506 shares in the company, valued at approximately $29,616,713.88. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 884,034 shares of company stock worth $11,499,975. 56.89% of the stock is currently owned by company insiders.

About Rush Street Interactive

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.