Public Sector Pension Investment Board Trims Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Public Sector Pension Investment Board trimmed its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 50.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the company's stock after selling 100,000 shares during the period. Public Sector Pension Investment Board's holdings in Rush Street Interactive were worth $1,085,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RSI. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Rush Street Interactive in the third quarter worth approximately $44,000. New York State Teachers Retirement System grew its stake in 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 increased its holdings in shares of Rush Street Interactive by 15.9% in the 2nd quarter. Quarry LP now owns 8,762 shares of the company's stock worth $84,000 after buying an additional 1,200 shares during the last quarter. CWM LLC raised its position in shares of Rush Street Interactive by 425.6% during the 3rd quarter. CWM LLC now owns 9,209 shares of the company's stock valued at $100,000 after buying an additional 7,457 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Rush Street Interactive during the 2nd quarter worth $98,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Performance

RSI stock traded down $0.45 during trading on Friday, hitting $13.68. 1,512,937 shares of the company traded hands, compared to its average volume of 2,201,006. The company has a 50-day moving average of $11.71 and a 200-day moving average of $10.25. Rush Street Interactive, Inc. has a 1 year low of $3.56 and a 1 year high of $14.92. The firm has a market capitalization of $3.09 billion, a PE ratio of -684.00 and a beta of 1.88.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RSI. Craig Hallum raised their price target 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. Needham & Company LLC increased their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group boosted their target price 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $12.43.

Insider Buying and Selling at Rush Street Interactive

In other news, COO Mattias Stetz sold 5,000 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief operating officer now directly owns 575,484 shares of the company's stock, valued at approximately $6,905,808. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 103,905 shares of the firm's stock in a transaction dated 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 in the company, valued at $18,773,429.56. The trade was a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 312,339 shares of company stock worth $3,612,971. 56.89% of the stock is currently owned by 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.