Verition Fund Management LLC Has $1.72 Million Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Verition Fund Management LLC increased its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 65.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,721 shares of the company's stock after buying an additional 62,556 shares during the quarter. Verition Fund Management LLC owned 0.07% of Rush Street Interactive worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RSI. New York State Teachers Retirement System increased its position in Rush Street Interactive by 17.2% during the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company's stock worth $75,000 after buying an additional 1,020 shares during the last quarter. Quarry LP boosted its stake in shares of Rush Street Interactive by 15.9% during the 2nd quarter. Quarry LP now owns 8,762 shares of the company's stock worth $84,000 after acquiring an additional 1,200 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Rush Street Interactive by 7.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 25,727 shares of the company's stock valued at $279,000 after acquiring an additional 1,745 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Rush Street Interactive in the 3rd quarter valued at approximately $44,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Rush Street Interactive by 25.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,645 shares of the company's stock worth $275,000 after purchasing an additional 5,840 shares during the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Performance

RSI traded down $0.45 during trading hours on Friday, reaching $13.68. The company's stock had a trading volume of 1,512,937 shares, compared to its average volume of 2,201,006. The company's 50-day moving average is $11.71 and its 200-day moving average is $10.25. Rush Street Interactive, Inc. has a 52 week low of $3.56 and a 52 week high of $14.92. The firm has a market cap of $3.09 billion, a PE ratio of -684.00 and a beta of 1.88.

Analysts Set New Price Targets

Several research firms recently commented on RSI. Jefferies Financial Group upped their target price on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Craig Hallum boosted their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, Needham & Company LLC raised their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Rush Street Interactive presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.43.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 103,905 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the transaction, the chief executive officer now owns 1,703,578 shares in the company, valued at $18,773,429.56. This trade represents a 5.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.23, for a total value of $393,050.00. Following the sale, the insider now directly owns 139,982 shares in the company, valued at approximately $1,571,997.86. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 312,339 shares of company stock worth $3,612,971. Company insiders own 56.89% of the company's stock.

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.