Massachusetts Financial Services Co. MA Has $2.63 Million Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Massachusetts Financial Services Co. MA trimmed its position in Rush Street Interactive, Inc. (NYSE:RSI) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,437 shares of the company’s stock after selling 5,873 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.11% of Rush Street Interactive worth $2,630,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Rush Street Interactive by 1.6% during the first 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. Renaissance Technologies LLC boosted its holdings in shares of Rush Street Interactive by 47.3% during the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock worth $14,425,000 after purchasing an additional 482,872 shares during the period. Assenagon Asset Management S.A. boosted 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 worth $13,666,000 after purchasing an additional 872,367 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Rush Street Interactive by 10.9% during the second quarter. Federated Hermes Inc. now owns 1,329,825 shares of the company’s stock worth $12,753,000 after purchasing an additional 130,217 shares during the period. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Rush Street Interactive during the second quarter worth approximately $10,605,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Richard Todd Schwartz sold 90,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $11.20, for a total transaction of $1,008,000.00. Following the transaction, the chief executive officer now owns 1,613,578 shares of the company’s stock, valued at approximately $18,072,073.60. The trade was a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Mattias Stetz sold 5,000 shares of the business’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 directly owns 575,484 shares in the company, valued at $6,905,808. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,839 shares of company stock valued at $3,145,471 over the last 90 days. 56.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on RSI. Craig Hallum raised their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company lifted their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Oppenheimer lifted 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. Finally, Jefferies Financial Group lifted their target price on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.43.

Rush Street Interactive Stock Up 5.2 %

NYSE:RSI opened at $14.52 on Wednesday. Rush Street Interactive, Inc. has a 12 month low of $3.56 and a 12 month high of $14.52. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of -725.50 and a beta of 1.78. The company’s 50 day moving average is $11.03 and its 200-day moving average is $9.91.

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.