Tidal Investments LLC Sells 39,432 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Tidal Investments LLC reduced its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 52.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,080 shares of the company's stock after selling 39,432 shares during the period. Tidal Investments LLC's holdings in Rush Street Interactive were worth $391,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Rush Street Interactive during the third quarter valued at $44,000. Point72 DIFC Ltd acquired a new stake in shares of Rush Street Interactive during the 3rd quarter worth about $70,000. New York State Teachers Retirement System lifted its holdings in Rush Street Interactive by 17.2% during the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company's stock valued at $75,000 after purchasing an additional 1,020 shares during the last quarter. Quarry LP boosted its position in Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company's stock valued at $84,000 after buying an additional 1,200 shares in the last quarter. Finally, CWM LLC grew its stake in Rush Street Interactive by 425.6% during the third quarter. CWM LLC now owns 9,209 shares of the company's stock worth $100,000 after buying an additional 7,457 shares during the last quarter. Institutional investors own 24.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RSI shares. Craig Hallum lifted their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC increased their target price on Rush Street Interactive from $14.00 to $15.00 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 issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $12.43.

Rush Street Interactive Price Performance

Shares of NYSE RSI traded up $0.13 during midday trading on Tuesday, hitting $13.62. The stock had a trading volume of 965,346 shares, compared to its average volume of 1,680,846. The firm has a market cap of $3.07 billion, a P/E ratio of -681.00 and a beta of 1.88. Rush Street Interactive, Inc. has a fifty-two week low of $3.56 and a fifty-two week high of $14.92. The company's 50-day simple moving average is $12.31 and its 200 day simple moving average is $10.63.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, insider Paul Wierbicki sold 35,000 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.23, for a total transaction of $393,050.00. Following the completion of the sale, the insider now owns 139,982 shares in the company, valued at approximately $1,571,997.86. The trade was a 20.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 45,256 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $13.51, for a total value of $611,408.56. Following the completion of the transaction, the chief executive officer now directly owns 1,762,227 shares in the company, valued at approximately $23,807,686.77. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 357,595 shares of company stock worth $4,224,380 over the last 90 days. 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.