Tidal Investments LLC Sells 39,432 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Tidal Investments LLC lessened its position in Rush Street Interactive, Inc. (NYSE:RSI) by 52.2% during the third quarter, Holdings Channel.com reports. The fund owned 36,080 shares of the company’s stock after selling 39,432 shares during the period. Tidal Investments LLC’s holdings in Rush Street Interactive were worth $391,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Rush Street Interactive by 5.6% in the third quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock worth $18,843,000 after purchasing an additional 92,314 shares during the last quarter. Barclays PLC grew its position in shares of Rush Street Interactive by 178.6% in the 3rd quarter. Barclays PLC now owns 192,628 shares of the company’s stock worth $2,090,000 after buying an additional 123,486 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Rush Street Interactive during the third quarter valued at approximately $576,000. XTX Topco Ltd raised its holdings in shares of Rush Street Interactive by 53.7% during the third quarter. XTX Topco Ltd now owns 63,958 shares of the company’s stock valued at $694,000 after acquiring an additional 22,339 shares in the last quarter. Finally, State Street Corp lifted its stake in Rush Street Interactive by 3.6% in the third quarter. State Street Corp now owns 1,612,892 shares of the company’s stock worth $17,500,000 after acquiring an additional 55,697 shares during the period. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Insider Buying and Selling at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 103,905 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $11.02, for a total value of $1,145,033.10. Following the sale, the chief executive officer now owns 1,703,578 shares in the company, valued at $18,773,429.56. This represents a 5.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.23, for a total value of $393,050.00. Following 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 357,595 shares of company stock valued at $4,224,380. Corporate insiders own 56.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Craig Hallum boosted their price target on shares of 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, Jefferies Financial Group raised their price objective on shares of Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.43.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $13.49 on Tuesday. Rush Street Interactive, Inc. has a 1 year low of $3.56 and a 1 year high of $14.92. The firm has a 50-day moving average of $12.27 and a 200 day moving average of $10.60. The stock has a market cap of $3.04 billion, a P/E ratio of -674.50 and a beta of 1.88.

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.