JPMorgan Chase & Co. Increases Stock Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

JPMorgan Chase & Co. lifted its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 155.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 265,412 shares of the company’s stock after buying an additional 161,568 shares during the quarter. JPMorgan Chase & Co.’s holdings in Rush Street Interactive were worth $2,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Driehaus Capital Management LLC purchased a new position in shares of Rush Street Interactive in the 2nd quarter valued at approximately $10,605,000. Marshall Wace LLP increased its stake in shares of Rush Street Interactive by 185.5% in the 2nd quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock worth $9,416,000 after acquiring an additional 637,883 shares in the last quarter. Millennium Management LLC lifted its position in Rush Street Interactive by 378.4% during the 2nd quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock valued at $5,951,000 after acquiring an additional 490,831 shares during the period. Renaissance Technologies LLC boosted its stake in 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 acquiring an additional 482,872 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in Rush Street Interactive in the third quarter worth about $4,178,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Rush Street Interactive Stock Performance

Shares of NYSE:RSI opened at $15.02 on Monday. The stock’s 50-day simple moving average is $13.61 and its two-hundred day simple moving average is $11.28. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -751.20 and a beta of 1.88. Rush Street Interactive, Inc. has a 52-week low of $4.45 and a 52-week high of $15.68.

Insider Buying and Selling

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 103,905 shares of Rush Street Interactive stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the transaction, the chief executive officer now owns 1,703,578 shares of the company’s stock, valued at $18,773,429.56. The trade was a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $393,050.00. Following the completion of the sale, the insider now directly owns 139,982 shares of the company’s stock, valued at approximately $1,571,997.86. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 884,287 shares of company stock valued at $11,632,978. 56.89% of the stock is owned by insiders.

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.