Point72 Asset Management L.P. Has $1.10 Million Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Point72 Asset Management L.P. lifted its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 307.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,064 shares of the company's stock after buying an additional 76,243 shares during the period. Point72 Asset Management L.P.'s holdings in Rush Street Interactive were worth $1,097,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Janus Henderson Group PLC purchased a new stake in shares of Rush Street Interactive during the 3rd quarter worth approximately $317,000. Verition Fund Management LLC boosted its position in Rush Street Interactive by 65.1% during the third quarter. Verition Fund Management LLC now owns 158,721 shares of the company's stock worth $1,722,000 after purchasing an additional 62,556 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Rush Street Interactive during the 3rd quarter valued at about $656,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rush Street Interactive during the 3rd quarter worth approximately $44,000. Finally, Millrace Asset Group Inc. purchased a new stake in Rush Street Interactive during the 3rd quarter worth about $2,135,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rush Street Interactive

In other news, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $11.23, for a total value of $393,050.00. Following the sale, the insider now directly owns 139,982 shares in the company, valued at $1,571,997.86. This trade represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Todd Schwartz sold 103,905 shares of Rush Street Interactive stock in a transaction dated Friday, November 15th. The shares were 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 in the company, valued at approximately $18,773,429.56. This represents a 5.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 357,595 shares of company stock valued at $4,224,380. 56.89% of the stock is currently owned by corporate insiders.

Rush Street Interactive Trading Up 4.6 %

RSI traded up $0.62 on Wednesday, hitting $14.12. 650,182 shares of the stock traded hands, compared to its average volume of 1,685,509. The business has a fifty day moving average price of $11.83 and a two-hundred day moving average price of $10.33. The firm has a market capitalization of $3.19 billion, a PE ratio of -675.50 and a beta of 1.88. Rush Street Interactive, Inc. has a 52 week low of $3.56 and a 52 week high of $14.92.

Analysts Set New Price Targets

RSI has been the subject of several analyst reports. Jefferies Financial Group boosted their price target on Rush Street Interactive from $15.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, October 31st. 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 note on Thursday, October 31st. Finally, Needham & Company LLC upped their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.43.

Rush Street Interactive 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.