Geode Capital Management LLC Purchases 92,314 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Geode Capital Management LLC raised its position in Rush Street Interactive, Inc. (NYSE:RSI) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,736,259 shares of the company’s stock after purchasing an additional 92,314 shares during the period. Geode Capital Management LLC’s holdings in Rush Street Interactive were worth $18,843,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Rush Street Interactive by 40.5% in the second quarter. Bank of New York Mellon Corp now owns 252,514 shares of the company’s stock valued at $2,422,000 after acquiring an additional 72,831 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Rush Street Interactive in the 2nd quarter valued at approximately $98,000. Rhumbline Advisers increased its stake in Rush Street Interactive by 26.6% during the 2nd quarter. Rhumbline Advisers now owns 100,476 shares of the company’s stock worth $964,000 after purchasing an additional 21,106 shares in the last quarter. Acadian Asset Management LLC bought a new position in Rush Street Interactive in the second quarter valued at approximately $587,000. Finally, Quest Partners LLC bought a new position in Rush Street Interactive in the second quarter valued at approximately $388,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RSI has been the subject of a number of research reports. Jefferies Financial Group increased their target price on Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Craig Hallum lifted their target price on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, 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 report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Rush Street Interactive has an average rating of “Moderate Buy” and an average price target of $12.43.

Rush Street Interactive Stock Down 0.6 %

NYSE:RSI opened at $13.74 on Friday. Rush Street Interactive, Inc. has a 12-month low of $3.56 and a 12-month high of $14.92. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of -687.00 and a beta of 1.88. The stock’s 50 day moving average price is $12.52 and its two-hundred day moving average price is $10.75.

Insiders Place Their Bets

In related news, insider Paul Wierbicki sold 35,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.23, for a total value of $393,050.00. Following the completion of the transaction, the insider now owns 139,982 shares of the company’s stock, valued at $1,571,997.86. The trade was a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Mattias Stetz sold 5,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. Following the sale, the chief operating officer now owns 575,484 shares in the company, valued at $6,905,808. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 357,595 shares of company stock worth $4,224,380 over the last three months. Insiders own 56.89% of the company’s stock.

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.