Verition Fund Management LLC Purchases 62,556 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Verition Fund Management LLC grew its position in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 65.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 158,721 shares of the company’s stock after acquiring an additional 62,556 shares during the quarter. Verition Fund Management LLC owned about 0.07% of Rush Street Interactive worth $1,722,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millrace Asset Group Inc. bought a new position in shares of Rush Street Interactive during the 3rd quarter valued at approximately $2,135,000. Vanguard Group Inc. raised its holdings in Rush Street Interactive by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock valued at $35,683,000 after buying an additional 85,736 shares during the period. Principal Financial Group Inc. raised its holdings in Rush Street Interactive by 656.2% during the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after buying an additional 67,388 shares during the period. SG Americas Securities LLC purchased a new stake in Rush Street Interactive during the 2nd quarter valued at $1,565,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in 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 valued at $8,907,000 after buying an additional 344,276 shares during the period. 24.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RSI has been the topic of several recent research reports. Needham & Company LLC increased their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 31st. 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 research note on Thursday, October 31st. Finally, Craig Hallum increased their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rush Street Interactive currently has an average rating of “Moderate Buy” and an average target price of $12.43.

Insider Activity at Rush Street Interactive

In related news, COO Mattias Stetz sold 5,000 shares of Rush Street Interactive 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 $6,905,808. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive 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 transaction, the insider now owns 139,982 shares of the company’s stock, valued at approximately $1,571,997.86. This represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 312,339 shares of company stock valued at $3,612,971 over the last quarter. 56.89% of the stock is owned by corporate insiders.

Rush Street Interactive Price Performance

Shares of RSI stock opened at $13.68 on Friday. Rush Street Interactive, Inc. has a 1-year low of $3.56 and a 1-year high of $14.92. The stock’s 50-day moving average is $11.65 and its 200 day moving average is $10.21. The company has a market cap of $3.09 billion, a P/E ratio of -684.00 and a beta of 1.88.

Rush Street Interactive Company 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.