Assenagon Asset Management S.A. Reduces Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Assenagon Asset Management S.A. lowered its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 49.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 314,189 shares of the company's stock after selling 309,989 shares during the period. Assenagon Asset Management S.A. owned approximately 0.14% of Rush Street Interactive worth $4,311,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Driehaus Capital Management LLC purchased a new position in Rush Street Interactive in the second quarter worth $10,605,000. Marshall Wace LLP grew its stake in Rush Street Interactive by 185.5% during the 2nd quarter. Marshall Wace LLP now owns 981,822 shares of the company's stock worth $9,416,000 after buying an additional 637,883 shares during the last quarter. Millennium Management LLC increased its position in Rush Street Interactive by 378.4% during the 2nd quarter. Millennium Management LLC now owns 620,552 shares of the company's stock valued at $5,951,000 after buying an additional 490,831 shares in the last quarter. Renaissance Technologies LLC raised its stake in Rush Street Interactive by 47.3% in the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company's stock valued at $14,425,000 after buying an additional 482,872 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in Rush Street Interactive in the 3rd quarter worth approximately $4,178,000. Institutional investors own 24.78% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 103,905 shares of Rush Street Interactive stock in a transaction on Friday, November 15th. The stock was sold at an average price of $11.02, for a total value of $1,145,033.10. Following the completion of the sale, the chief executive officer now directly owns 1,703,578 shares of the company's stock, valued at approximately $18,773,429.56. The trade was a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Wierbicki sold 35,000 shares of the stock in a transaction dated 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 directly owns 139,982 shares in the company, valued at approximately $1,571,997.86. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 884,287 shares of company stock valued at $11,632,978. 56.89% of the stock is currently owned by insiders.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI traded up $0.30 during midday trading on Tuesday, hitting $15.32. The company's stock had a trading volume of 616,686 shares, compared to its average volume of 1,662,168. Rush Street Interactive, Inc. has a 12-month low of $4.99 and a 12-month high of $15.68. The company has a market cap of $3.46 billion, a P/E ratio of -767.05 and a beta of 1.88. The business's 50 day simple moving average is $13.68 and its 200 day simple moving average is $11.33.

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.