Westmount Partners LLC Has $550,000 Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Westmount Partners LLC lessened its stake in Rush Street Interactive, Inc. (NYSE:RSI) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,100 shares of the company’s stock after selling 9,900 shares during the quarter. Westmount Partners LLC’s holdings in Rush Street Interactive were worth $550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Driehaus Capital Management LLC bought a new position in Rush Street Interactive in the second quarter valued at about $10,605,000. Marshall Wace LLP grew its holdings in shares of Rush Street Interactive by 185.5% during the second quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock worth $9,416,000 after purchasing an additional 637,883 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Rush Street Interactive by 378.4% during the second quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock worth $5,951,000 after purchasing an additional 490,831 shares during the last quarter. Renaissance Technologies LLC grew 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 last quarter. Finally, Caprock Group LLC bought a new stake in shares of Rush Street Interactive during the third quarter worth about $4,178,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RSI shares. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Needham & Company LLC upped their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group upped their target price on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Craig Hallum boosted their price target on Rush Street Interactive from $14.00 to $17.00 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 issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Rush Street Interactive Price Performance

Shares of NYSE:RSI traded down $0.24 during trading on Monday, reaching $13.74. 844,944 shares of the stock were exchanged, compared to its average volume of 1,821,469. Rush Street Interactive, Inc. has a 1-year low of $3.56 and a 1-year high of $14.96. The stock has a fifty day moving average of $13.21 and a two-hundred day moving average of $11.09. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -687.00 and a beta of 1.88.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 25,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $14.50, for a total value of $362,500.00. Following the completion of the transaction, the chief operating officer now owns 550,484 shares in the company, valued at $7,982,018. This represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 103,905 shares of the company’s 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 owns 1,703,578 shares of the company’s stock, valued at $18,773,429.56. This trade represents a 5.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 870,868 shares of company stock valued at $11,437,217. 56.89% of the stock is owned by insiders.

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.