Algert Global LLC Boosts Position in Rush Street Interactive, Inc. (NYSE:RSI)

Algert Global LLC boosted its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 117.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 510,361 shares of the company’s stock after acquiring an additional 275,788 shares during the period. Algert Global LLC owned 0.23% of Rush Street Interactive worth $5,537,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RSI. New York State Teachers Retirement System raised its holdings in Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after buying an additional 1,020 shares during the period. Quarry LP lifted its stake in 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. Principal Financial Group Inc. purchased a new position in Rush Street Interactive during the 2nd quarter valued at about $98,000. CWM LLC grew its position in Rush Street Interactive by 425.6% in the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after acquiring an additional 7,457 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in Rush Street Interactive during the third quarter worth about $148,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RSI shares. Oppenheimer upped their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their target price on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Craig Hallum increased their price target on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised 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. 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 report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Rush Street Interactive presently has an average rating of “Moderate Buy” and an average price target of $12.43.

Insider Activity

In other Rush Street Interactive news, COO Mattias Stetz sold 5,000 shares of the stock in a transaction that occurred on 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 directly owns 575,484 shares of the company’s stock, valued at approximately $6,905,808. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Einar Roosileht sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total value of $1,363,500.00. Following the completion of the transaction, the insider now directly owns 809,260 shares in the company, valued at approximately $7,356,173.40. The trade was a 15.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 429,839 shares of company stock valued at $4,508,971. 56.89% of the stock is currently owned by company insiders.

Rush Street Interactive Stock Performance

Rush Street Interactive stock opened at $13.32 on Monday. Rush Street Interactive, Inc. has a fifty-two week low of $3.56 and a fifty-two week high of $13.71. The company has a market capitalization of $3.01 billion, a P/E ratio of -666.00 and a beta of 1.78. The stock has a 50-day simple moving average of $10.95 and a 200-day simple moving average of $9.87.

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.