Rush Street Interactive, Inc. (NYSE:RSI) Shares Acquired by Algert Global LLC

Algert Global LLC raised its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 117.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 510,361 shares of the company's stock after purchasing an additional 275,788 shares during the quarter. Algert Global LLC owned 0.23% of Rush Street Interactive worth $5,537,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RSI. New York State Teachers Retirement System raised its holdings 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 worth $75,000 after buying an additional 1,020 shares during the period. Quarry LP lifted its position in shares of Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company's stock worth $84,000 after purchasing an additional 1,200 shares during the last quarter. CWM LLC lifted its position in shares of Rush Street Interactive by 425.6% during the third quarter. CWM LLC now owns 9,209 shares of the company's stock worth $100,000 after purchasing an additional 7,457 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Rush Street Interactive in the second quarter worth about $98,000. Finally, nVerses Capital LLC bought a new position in shares of Rush Street Interactive in the third quarter worth about $148,000. Institutional investors own 24.78% of the company's stock.

Wall Street Analysts Forecast Growth

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

Rush Street Interactive Trading Up 3.8 %

Shares of RSI traded up $0.51 during trading hours on Monday, hitting $13.83. The company had a trading volume of 2,225,219 shares, compared to its average volume of 1,690,153. The company has a market capitalization of $3.12 billion, a PE ratio of -691.50 and a beta of 1.78. Rush Street Interactive, Inc. has a one year low of $3.56 and a one year high of $14.03. The company's fifty day moving average price is $11.03 and its two-hundred day moving average price is $9.91.

Insiders Place Their Bets

In other news, insider Einar Roosileht sold 150,000 shares of the firm's stock in a transaction 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 owns 809,260 shares of the company's stock, valued at $7,356,173.40. This trade represents a 15.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Sauers sold 25,934 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.30, for a total value of $318,988.20. Following the transaction, the chief financial officer now owns 338,614 shares in the company, valued at approximately $4,164,952.20. This trade represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 429,839 shares of company stock worth $4,508,971. 56.89% of the stock is owned by corporate insiders.

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.