Renaissance Technologies LLC Acquires 598,300 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Renaissance Technologies LLC lifted its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 43.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,962,400 shares of the company's stock after purchasing an additional 598,300 shares during the quarter. Renaissance Technologies LLC owned 0.87% of Rush Street Interactive worth $26,924,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Rush Street Interactive in the 3rd quarter valued at $656,000. Legato Capital Management LLC acquired a new stake in Rush Street Interactive during the 4th quarter valued at $1,897,000. Oppenheimer & Co. Inc. bought a new stake in shares of Rush Street Interactive during the 4th quarter worth about $337,000. State Street Corp boosted its holdings in shares of Rush Street Interactive by 3.6% during the third quarter. State Street Corp now owns 1,612,892 shares of the company's stock worth $17,500,000 after acquiring an additional 55,697 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Rush Street Interactive by 18.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 879,563 shares of the company's stock valued at $12,068,000 after buying an additional 137,701 shares in the last quarter. Institutional investors own 24.78% of the company's stock.

Rush Street Interactive Stock Down 0.4 %

RSI traded down $0.05 during midday trading on Friday, hitting $11.79. The company had a trading volume of 784,301 shares, compared to its average volume of 1,895,942. The stock's 50 day moving average price is $11.95 and its 200 day moving average price is $12.57. Rush Street Interactive, Inc. has a 52 week low of $5.71 and a 52 week high of $16.78. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -589.25 and a beta of 1.90.

Insider Activity

In other news, COO Mattias Stetz sold 25,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $14.40, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 561,089 shares of the company's stock, valued at $8,079,681.60. This represents a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Einar Roosileht sold 70,000 shares of Rush Street Interactive stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $14.41, for a total transaction of $1,008,700.00. Following the completion of the sale, the insider now directly owns 946,150 shares of the company's stock, valued at approximately $13,634,021.50. The trade was a 6.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 746,281 shares of company stock worth $8,811,577 in the last three months. Company insiders own 56.89% of the company's stock.

Wall Street Analyst Weigh In

RSI has been the topic of several recent research reports. Macquarie reaffirmed an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a report on Thursday, February 27th. JMP Securities reissued a "market perform" rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Susquehanna upgraded Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Jefferies Financial Group upped their price target on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $15.50.

Rush Street Interactive Company 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.