Quadrature Capital Ltd Sells 58,067 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Quadrature Capital Ltd cut its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 61.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,179 shares of the company's stock after selling 58,067 shares during the quarter. Quadrature Capital Ltd's holdings in Rush Street Interactive were worth $404,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RSI. Renaissance Technologies LLC raised its holdings in Rush Street Interactive by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company's stock valued at $14,425,000 after acquiring an additional 482,872 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Rush Street Interactive by 157.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company's stock worth $13,666,000 after purchasing an additional 872,367 shares during the period. Federated Hermes Inc. grew its stake in Rush Street Interactive by 10.9% during the second quarter. Federated Hermes Inc. now owns 1,329,825 shares of the company's stock worth $12,753,000 after buying an additional 130,217 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Rush Street Interactive in the 2nd quarter valued at about $10,605,000. Finally, Marshall Wace LLP raised its position in shares of Rush Street Interactive by 185.5% in the 2nd quarter. Marshall Wace LLP now owns 981,822 shares of the company's stock valued at $9,416,000 after buying an additional 637,883 shares in the last quarter. 24.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC raised their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, October 31st. 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 note on Thursday, October 31st. Finally, Craig Hallum increased their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $12.43.

Rush Street Interactive Trading Up 1.7 %

RSI traded up $0.23 on Tuesday, reaching $13.47. The stock had a trading volume of 1,002,572 shares, compared to its average volume of 1,686,574. The firm has a 50-day moving average of $11.76 and a 200-day moving average of $10.30. Rush Street Interactive, Inc. has a fifty-two week low of $3.56 and a fifty-two week high of $14.92. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -661.75 and a beta of 1.88.

Insider Buying and Selling

In other news, CEO Richard Todd Schwartz sold 103,905 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,703,578 shares in the company, valued at approximately $18,773,429.56. The trade was a 5.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mattias Stetz sold 25,000 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $14.50, for a total transaction of $362,500.00. Following the sale, the chief operating officer now directly owns 550,484 shares in the company, valued at $7,982,018. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,339 shares of company stock worth $3,612,971 in the last ninety days. Company insiders own 56.89% of the company's stock.

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.