Y Intercept Hong Kong Ltd Makes New Investment in Rush Street Interactive, Inc. (NYSE:RSI)

Y Intercept Hong Kong Ltd bought a new stake in Rush Street Interactive, Inc. (NYSE:RSI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,128 shares of the company’s stock, valued at approximately $576,000.

Other hedge funds have also made changes to their positions in the company. Millrace Asset Group Inc. acquired a new stake in Rush Street Interactive in the 3rd quarter valued at about $2,135,000. Principal Financial Group Inc. grew its position in shares of Rush Street Interactive by 656.2% in the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after purchasing an additional 67,388 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Rush Street Interactive by 72.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock worth $8,907,000 after purchasing an additional 344,276 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Rush Street Interactive during the 2nd quarter worth approximately $587,000. Finally, GSA Capital Partners LLP lifted its stake in Rush Street Interactive by 42.6% in the 3rd quarter. GSA Capital Partners LLP now owns 279,367 shares of the company’s stock valued at $3,031,000 after buying an additional 83,436 shares in the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Trading Down 0.7 %

NYSE RSI opened at $13.57 on Friday. The business’s 50-day moving average price is $12.01 and its 200 day moving average price is $10.42. Rush Street Interactive, Inc. has a twelve month low of $3.56 and a twelve month high of $14.92. The company has a market capitalization of $3.06 billion, a PE ratio of -678.50 and a beta of 1.88.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief operating officer now owns 575,484 shares of the company’s stock, valued at approximately $6,905,808. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 103,905 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $11.02, for a total value of $1,145,033.10. Following the sale, the chief executive officer now owns 1,703,578 shares of the company’s stock, valued at $18,773,429.56. This represents a 5.75 % decrease in their ownership of the stock. 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 in the last three months. Company insiders own 56.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Craig Hallum raised their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC lifted their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, 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 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. According to MarketBeat.com, Rush Street Interactive currently has an average rating of “Moderate Buy” and a consensus target price of $12.43.

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.