Y Intercept Hong Kong Ltd Sells 23,843 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 44.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,285 shares of the company's stock after selling 23,843 shares during the period. Y Intercept Hong Kong Ltd's holdings in Rush Street Interactive were worth $402,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RSI. Wealthspire Advisors LLC purchased a new stake in shares of Rush Street Interactive during the fourth quarter valued at $206,000. Ieq Capital LLC bought a new position in Rush Street Interactive during the 4th quarter valued at about $616,000. New York State Common Retirement Fund lifted its stake in Rush Street Interactive by 732.2% during the 4th quarter. New York State Common Retirement Fund now owns 177,627 shares of the company's stock valued at $2,437,000 after acquiring an additional 156,282 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Rush Street Interactive by 10.8% during the 4th quarter. Principal Financial Group Inc. now owns 86,051 shares of the company's stock valued at $1,181,000 after acquiring an additional 8,393 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Rush Street Interactive by 2.4% in the fourth quarter. Rhumbline Advisers now owns 103,426 shares of the company's stock worth $1,419,000 after acquiring an additional 2,457 shares during the period. Institutional investors own 24.78% of the company's stock.

Insider Transactions at Rush Street Interactive

In related news, insider Einar Roosileht sold 48,968 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total value of $687,510.72. Following the completion of the sale, the insider now directly owns 830,292 shares of the company's stock, valued at approximately $11,657,299.68. This represents a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard Todd Schwartz sold 45,256 shares of Rush Street Interactive stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $13.51, for a total transaction of $611,408.56. Following the transaction, the chief executive officer now directly owns 1,762,227 shares in the company, valued at $23,807,686.77. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 800,853 shares of company stock valued at $11,292,836 over the last quarter. 56.89% of the stock is currently owned by company insiders.

Rush Street Interactive Trading Down 2.7 %

NYSE RSI traded down $0.31 on Monday, hitting $11.35. 2,735,287 shares of the company traded hands, compared to its average volume of 2,190,035. The business's 50 day moving average price is $14.35 and its 200-day moving average price is $12.31. Rush Street Interactive, Inc. has a 52-week low of $5.22 and a 52-week high of $16.78. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -567.50 and a beta of 1.88.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Susquehanna upgraded shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research report on Friday. Needham & Company LLC reissued a "buy" rating and set a $17.00 price target on shares of Rush Street Interactive in a report on Thursday. Macquarie reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a report on Thursday. JMP Securities reiterated a "market perform" rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Finally, Wells Fargo & Company raised their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $15.50.

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.