196,814 Shares in Rush Street Interactive, Inc. (NYSE:RSI) Acquired by Millrace Asset Group Inc.

Millrace Asset Group Inc. bought a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 196,814 shares of the company’s stock, valued at approximately $2,135,000. Rush Street Interactive accounts for about 2.2% of Millrace Asset Group Inc.’s portfolio, making the stock its 10th biggest holding. Millrace Asset Group Inc. owned about 0.09% of Rush Street Interactive as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in RSI. Driehaus Capital Management LLC purchased a new position in Rush Street Interactive during the second quarter valued at approximately $10,605,000. Assenagon Asset Management S.A. grew its position in shares of Rush Street Interactive by 157.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock valued at $13,666,000 after purchasing an additional 872,367 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Rush Street Interactive by 185.5% in the second quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock worth $9,416,000 after purchasing an additional 637,883 shares during the period. Millennium Management LLC raised its position in shares of Rush Street Interactive by 378.4% in the second quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock worth $5,951,000 after buying an additional 490,831 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Rush Street Interactive by 47.3% in the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock worth $14,425,000 after buying an additional 482,872 shares in the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RSI. Wells Fargo & Company upped their target price on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Needham & Company LLC upped their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Oppenheimer lifted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Jefferies Financial Group boosted their price target on shares of Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Craig Hallum raised their price objective on shares of Rush Street Interactive from $14.00 to $17.00 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 an average rating of “Moderate Buy” and an average price target of $12.43.

Insider Activity at Rush Street Interactive

In related news, CFO Kyle Sauers sold 25,934 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.30, for a total transaction of $318,988.20. Following the transaction, the chief financial officer now directly owns 338,614 shares in the company, valued at $4,164,952.20. This trade represents a 7.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $11.23, for a total value of $393,050.00. Following the completion of the sale, the insider now owns 139,982 shares of the company’s stock, valued at $1,571,997.86. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,839 shares of company stock valued at $3,145,471. Insiders own 56.89% of the company’s stock.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $13.83 on Tuesday. The stock has a market capitalization of $3.12 billion, a P/E ratio of -691.50 and a beta of 1.78. Rush Street Interactive, Inc. has a one year low of $3.56 and a one year high of $14.03. The firm’s 50 day simple moving average is $11.03 and its two-hundred day simple moving average is $9.91.

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.