Renaissance Technologies LLC Buys 598,300 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Renaissance Technologies LLC increased its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 43.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,962,400 shares of the company’s stock after acquiring an additional 598,300 shares during the period. Renaissance Technologies LLC’s holdings in Rush Street Interactive were worth $26,924,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Legal & General Group Plc boosted its position in Rush Street Interactive by 21.4% in the fourth quarter. Legal & General Group Plc now owns 93,375 shares of the company’s stock valued at $1,281,000 after buying an additional 16,456 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Rush Street Interactive by 16.4% in the 4th quarter. Invesco Ltd. now owns 453,088 shares of the company’s stock worth $6,216,000 after acquiring an additional 63,917 shares in the last quarter. Polymer Capital Management US LLC bought a new stake in Rush Street Interactive during the 4th quarter worth approximately $410,000. Cerity Partners LLC increased its holdings in Rush Street Interactive by 22.4% during the 4th quarter. Cerity Partners LLC now owns 15,031 shares of the company’s stock valued at $205,000 after purchasing an additional 2,753 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in Rush Street Interactive by 2.1% in the 4th quarter. Federated Hermes Inc. now owns 1,364,989 shares of the company’s stock valued at $18,728,000 after purchasing an additional 28,121 shares during the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

Rush Street Interactive Stock Up 3.8 %

RSI opened at $11.72 on Friday. The company has a fifty day simple moving average of $12.16 and a 200 day simple moving average of $12.55. The stock has a market cap of $2.67 billion, a P/E ratio of -586.05 and a beta of 1.90. Rush Street Interactive, Inc. has a 12 month low of $5.71 and a 12 month high of $16.78.

Wall Street Analysts Forecast Growth

RSI has been the subject of a number of research reports. Wells Fargo & Company raised their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday, February 27th. Benchmark raised their price target on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Macquarie reissued an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $15.50.

Insiders Place Their Bets

In other news, insider Einar Roosileht sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $14.41, for a total value of $1,008,700.00. Following the completion of the transaction, the insider now owns 946,150 shares in the company, valued at $13,634,021.50. This represents a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kyle Sauers sold 28,381 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $10.70, for a total transaction of $303,676.70. Following the sale, the chief financial officer now owns 470,323 shares in the company, valued at approximately $5,032,456.10. The trade was a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 759,700 shares of company stock worth $9,007,338 over the last ninety days. 56.89% of the stock is currently owned by corporate insiders.

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.