Point72 Asset Management L.P. Boosts Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Point72 Asset Management L.P. grew its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 307.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 101,064 shares of the company’s stock after acquiring an additional 76,243 shares during the period. Point72 Asset Management L.P.’s holdings in Rush Street Interactive were worth $1,097,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Driehaus Capital Management LLC acquired a new stake in Rush Street Interactive in the second quarter valued at $10,605,000. Assenagon Asset Management S.A. raised its stake in shares of Rush Street Interactive by 157.9% in 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 lifted its position in shares of Rush Street Interactive by 185.5% during 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 last quarter. Millennium Management LLC grew its stake in 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 purchasing an additional 490,831 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Rush Street Interactive by 47.3% in the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after buying an additional 482,872 shares during the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 25,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $14.50, for a total transaction of $362,500.00. Following the completion of the transaction, the chief operating officer now directly owns 550,484 shares of the company’s stock, valued at approximately $7,982,018. This trade represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Todd Schwartz sold 103,905 shares of Rush Street Interactive stock in a transaction on Friday, November 15th. The shares were sold at an average price of $11.02, for a total value of $1,145,033.10. Following the transaction, the chief executive officer now owns 1,703,578 shares in the company, valued at approximately $18,773,429.56. This trade represents a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 357,595 shares of company stock valued at $4,224,380. Company insiders own 56.89% of the company’s stock.

Rush Street Interactive Price Performance

RSI opened at $13.51 on Wednesday. Rush Street Interactive, Inc. has a 12 month low of $3.56 and a 12 month high of $14.92. The stock’s 50 day moving average price is $11.83 and its 200 day moving average price is $10.33. The stock has a market cap of $3.05 billion, a P/E ratio of -675.50 and a beta of 1.88.

Analyst Ratings Changes

A number of research analysts have commented on RSI shares. Jefferies Financial Group increased their target price on Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Craig Hallum lifted their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.43.

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.