Trexquant Investment LP Has $9.89 Million Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Trexquant Investment LP cut its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 720,833 shares of the company’s stock after selling 45,391 shares during the quarter. Trexquant Investment LP’s holdings in Rush Street Interactive were worth $9,890,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Rush Street Interactive by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 1,793,273 shares of the company’s stock valued at $24,610,000 after purchasing an additional 57,014 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Rush Street Interactive by 62.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company’s stock valued at $36,540,000 after purchasing an additional 1,018,889 shares during the last quarter. WealthTrak Capital Management LLC bought a new position in Rush Street Interactive in the 4th quarter valued at approximately $71,000. Pictet Asset Management Holding SA acquired a new stake in Rush Street Interactive in the fourth quarter valued at approximately $216,000. Finally, Norges Bank bought a new stake in shares of Rush Street Interactive during the fourth quarter worth $10,429,000. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Performance

Shares of RSI stock opened at $11.37 on Thursday. Rush Street Interactive, Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $16.78. The stock has a 50 day simple moving average of $12.77 and a two-hundred day simple moving average of $12.53. The company has a market cap of $2.59 billion, a P/E ratio of -568.50 and a beta of 1.92.

Insider Activity

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 149,605 shares of Rush Street Interactive stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total value of $2,185,729.05. Following the completion of the sale, the chief executive officer now directly owns 2,151,648 shares of the company’s stock, valued at approximately $31,435,577.28. The trade was a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Wierbicki sold 7,500 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $15.00, for a total transaction of $112,500.00. Following the transaction, the insider now directly owns 139,387 shares in the company, valued at $2,090,805. This trade represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 804,034 shares of company stock worth $10,641,775 in the last quarter. 56.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RSI. Susquehanna upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Macquarie reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research note on Thursday, February 27th. Benchmark lifted their target price on shares of Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Finally, Jefferies Financial Group lifted their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.50.

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.