Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 18.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 975,351 shares of the company's stock after buying an additional 154,396 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.43% of Rush Street Interactive worth $13,382,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new position in Rush Street Interactive in the 4th quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new stake in Rush Street Interactive in the 4th quarter valued at about $34,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rush Street Interactive during the third quarter worth about $44,000. Point72 DIFC Ltd acquired a new stake in Rush Street Interactive in the third quarter valued at approximately $70,000. Finally, Quarry LP lifted its stake in Rush Street Interactive by 80.6% in the third quarter. Quarry LP now owns 15,824 shares of the company's stock worth $172,000 after acquiring an additional 7,062 shares during the last quarter. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Trading Up 4.0 %

Shares of RSI traded up $0.43 during trading hours on Wednesday, reaching $11.09. The company had a trading volume of 1,759,886 shares, compared to its average volume of 1,852,605. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of -554.30 and a beta of 1.92. Rush Street Interactive, Inc. has a 12-month low of $5.71 and a 12-month high of $16.78. The firm has a 50 day simple moving average of $13.58 and a 200-day simple moving average of $12.43.

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Insiders Place Their Bets

In related news, CEO Richard Todd Schwartz sold 149,605 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total transaction of $2,185,729.05. Following the completion of the sale, the chief executive officer now owns 2,151,648 shares of the company's stock, valued at approximately $31,435,577.28. This represents a 6.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kyle Sauers sold 28,381 shares of Rush Street Interactive stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $10.70, for a total transaction of $303,676.70. Following the transaction, the chief financial officer now owns 470,323 shares in the company, valued at $5,032,456.10. The trade was a 5.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 988,545 shares of company stock valued at $13,174,489. Corporate insiders own 56.89% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RSI shares. Susquehanna raised shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Benchmark upped their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. JMP Securities reissued a "market perform" rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Jefferies Financial Group upped their price target on Rush Street Interactive from $16.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Finally, Macquarie reissued an "outperform" rating and set a $16.00 price objective 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 issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $15.50.

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.