Rush Street Interactive, Inc. (NYSE:RSI) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 72.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 820,955 shares of the company's stock after purchasing an additional 344,276 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.36% of Rush Street Interactive worth $8,907,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RSI. New York State Teachers Retirement System grew its stake in shares of Rush Street Interactive by 17.2% in the 3rd 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 in the last quarter. Quarry LP grew its position in Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company's stock worth $84,000 after acquiring an additional 1,200 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its stake in Rush Street Interactive by 7.3% during the third quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company's stock worth $279,000 after acquiring an additional 1,745 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Rush Street Interactive by 25.6% during the second quarter. The Manufacturers Life Insurance Company now owns 28,645 shares of the company's stock valued at $275,000 after purchasing an additional 5,840 shares during the period. Finally, CWM LLC lifted its stake 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 purchasing an additional 7,457 shares during the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 103,905 shares of Rush Street Interactive stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the transaction, the chief executive officer now directly owns 1,703,578 shares of the company's stock, valued at $18,773,429.56. This trade represents a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Mattias Stetz sold 5,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $12.00, for a total value of $60,000.00. Following the sale, the chief operating officer now directly owns 575,484 shares in the company, valued at $6,905,808. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 429,839 shares of company stock valued at $4,508,971. 56.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Rush Street Interactive Stock Performance

RSI traded down $0.16 during trading on Friday, hitting $13.32. 2,253,062 shares of the stock were exchanged, compared to its average volume of 1,687,491. The firm has a 50 day simple moving average of $10.89 and a 200 day simple moving average of $9.81. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -668.25 and a beta of 1.78. Rush Street Interactive, Inc. has a 1 year low of $3.56 and a 1 year high of $13.71.

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.