Millrace Asset Group Inc. Purchases New Position in Rush Street Interactive, Inc. (NYSE:RSI)

Millrace Asset Group Inc. purchased a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 196,814 shares of the company’s stock, valued at approximately $2,135,000. Rush Street Interactive accounts for about 2.2% of Millrace Asset Group Inc.’s holdings, making the stock its 10th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of RSI. Vanguard Group Inc. lifted its position in shares of Rush Street Interactive by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after purchasing an additional 85,736 shares during the period. Bayesian Capital Management LP bought a new stake in Rush Street Interactive during the first quarter worth about $403,000. Levin Capital Strategies L.P. grew its holdings in Rush Street Interactive by 250.0% in the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock worth $228,000 after purchasing an additional 25,000 shares during the period. SG Americas Securities LLC bought a new position in shares of Rush Street Interactive during the second quarter valued at approximately $1,565,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Rush Street Interactive by 157.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock valued at $13,666,000 after purchasing an additional 872,367 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Insider Activity

In other news, 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 transaction of $393,050.00. Following the sale, the insider now owns 139,982 shares in the company, valued at $1,571,997.86. This trade represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Mattias Stetz sold 5,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 575,484 shares of the company’s stock, valued at approximately $6,905,808. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,839 shares of company stock worth $3,145,471 in the last three months. Company insiders own 56.89% of the company’s stock.

Wall Street Analyst Weigh In

RSI has been the topic of several recent research reports. Needham & Company LLC upped their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target 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. Wells Fargo & Company increased their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Craig Hallum boosted their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Oppenheimer upped their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Rush Street Interactive presently has an average rating of “Moderate Buy” and a consensus price target of $12.43.

Rush Street Interactive Trading Up 3.8 %

Rush Street Interactive stock opened at $13.83 on Tuesday. Rush Street Interactive, Inc. has a 12-month low of $3.56 and a 12-month high of $14.03. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -691.50 and a beta of 1.78. The firm has a 50 day moving average of $11.03 and a 200 day moving average of $9.91.

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.