Point72 Hong Kong Ltd Increases Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

Point72 Hong Kong Ltd boosted its stake in Rush Street Interactive, Inc. (NYSE:RSI – Get Rating) by 138.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,279 shares of the company’s stock after purchasing an additional 5,962 shares during the period. Point72 Hong Kong Ltd’s holdings in Rush Street Interactive were worth $38,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new stake in shares of Rush Street Interactive in the second quarter valued at about $51,000. Fox Run Management L.L.C. acquired a new stake in Rush Street Interactive in the second quarter valued at approximately $52,000. Keybank National Association OH purchased a new stake in shares of Rush Street Interactive during the second quarter valued at approximately $55,000. Quantbot Technologies LP acquired a new position in shares of Rush Street Interactive during the first quarter worth $94,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Rush Street Interactive by 558.8% in the third quarter. Tower Research Capital LLC TRC now owns 14,249 shares of the company’s stock valued at $52,000 after purchasing an additional 12,086 shares during the period. 35.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, major shareholder Gregory A. Carlin sold 50,000 shares of Rush Street Interactive stock in a transaction on Friday, February 17th. The shares were sold at an average price of $4.31, for a total value of $215,500.00. Following the completion of the transaction, the insider now owns 1,354,402 shares of the company’s stock, valued at $5,837,472.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Rush Street Interactive news, major shareholder Gregory A. Carlin sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $4.31, for a total value of $215,500.00. Following the transaction, the insider now owns 1,354,402 shares of the company’s stock, valued at $5,837,472.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Gregory A. Carlin sold 100,000 shares of Rush Street Interactive stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $4.63, for a total value of $463,000.00. Following the completion of the transaction, the insider now owns 1,494,402 shares of the company’s stock, valued at $6,919,081.26. The disclosure for this sale can be found here. Corporate insiders own 58.02% of the company’s stock.

Rush Street Interactive Trading Down 2.1 %

Shares of RSI opened at $3.76 on Monday. Rush Street Interactive, Inc. has a 52 week low of $2.89 and a 52 week high of $9.34. The firm has a market cap of $829.08 million, a price-to-earnings ratio of -6.16 and a beta of 1.77. The stock has a 50 day moving average of $4.02 and a 200-day moving average of $4.09.

Wall Street Analysts Forecast Growth

RSI has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price objective on shares of Rush Street Interactive from $14.00 to $12.00 in a report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $8.00 price target on shares of Rush Street Interactive in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $6.00 price objective on shares of Rush Street Interactive in a research note on Thursday. Finally, Wells Fargo & Company cut their target price on Rush Street Interactive from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Rush Street Interactive currently has a consensus rating of “Moderate Buy” and an average price target of $8.63.

Rush Street Interactive Company Profile

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Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States and 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.