Assenagon Asset Management S.A. Reduces Stake in Rush Street Interactive, Inc. (NYSE:RSI)

Assenagon Asset Management S.A. lessened its stake in Rush Street Interactive, Inc. (NYSE:RSI) by 49.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 314,189 shares of the company’s stock after selling 309,989 shares during the period. Assenagon Asset Management S.A. owned about 0.14% of Rush Street Interactive worth $4,311,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Harbour Capital Advisors LLC purchased a new stake in Rush Street Interactive in the 4th quarter worth approximately $822,000. JPMorgan Chase & Co. boosted its position in Rush Street Interactive by 155.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 265,412 shares of the company’s stock worth $2,880,000 after purchasing an additional 161,568 shares in the last quarter. Principal Financial Group Inc. boosted its position in Rush Street Interactive by 656.2% in the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock worth $843,000 after purchasing an additional 67,388 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Rush Street Interactive in the 3rd quarter worth approximately $901,000. Finally, Geode Capital Management LLC boosted its position in Rush Street Interactive by 5.6% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Insider Activity at Rush Street Interactive

In related news, insider Paul Wierbicki sold 35,000 shares of the stock in a transaction on 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 directly owns 139,982 shares of the company’s stock, valued at approximately $1,571,997.86. This represents a 20.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 103,905 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $11.02, for a total value of $1,145,033.10. Following the completion of the transaction, the chief executive officer now directly owns 1,703,578 shares of the company’s stock, valued at approximately $18,773,429.56. This represents a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 884,287 shares of company stock valued at $11,632,978. 56.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on RSI. Jefferies Financial Group upped their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Craig Hallum upped their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Finally, Needham & Company LLC upped their target price on Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Rush Street Interactive Stock Performance

NYSE RSI opened at $15.02 on Tuesday. The business has a fifty day moving average price of $13.68 and a 200 day moving average price of $11.33. Rush Street Interactive, Inc. has a one year low of $4.45 and a one year high of $15.68. The company has a market cap of $3.39 billion, a P/E ratio of -751.20 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.