Entropy Technologies LP Invests $175,000 in Rush Street Interactive, Inc. (NYSE:RSI)

Entropy Technologies LP acquired a new stake in Rush Street Interactive, Inc. (NYSE:RSI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,100 shares of the company’s stock, valued at approximately $175,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System increased its position in shares of Rush Street Interactive by 17.2% during the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after acquiring an additional 1,020 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Rush Street Interactive by 13,627.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after purchasing an additional 11,856 shares during the period. Quarry LP increased its holdings in Rush Street Interactive by 15.9% in the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Rush Street Interactive in the second quarter valued at approximately $98,000. Finally, CWM LLC lifted its stake in Rush Street Interactive by 425.6% during the third quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after purchasing an additional 7,457 shares in the last quarter. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Performance

NYSE:RSI opened at $11.13 on Monday. Rush Street Interactive, Inc. has a 1 year low of $3.56 and a 1 year high of $12.46. The stock has a market cap of $2.51 billion, a P/E ratio of -556.50 and a beta of 1.78. The stock has a 50-day simple moving average of $10.68 and a 200-day simple moving average of $9.72.

Insider Buying and Selling

In other Rush Street Interactive news, CFO Kyle Sauers sold 25,934 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.30, for a total value of $318,988.20. Following the completion of the transaction, the chief financial officer now owns 338,614 shares in the company, valued at $4,164,952.20. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 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 sale, the insider now owns 139,982 shares in the company, valued at $1,571,997.86. This trade represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 210,934 shares of company stock worth $2,075,538 over the last 90 days. 56.89% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC lifted their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Oppenheimer lifted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Craig Hallum raised their price objective on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their price objective on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company increased their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rush Street Interactive has a consensus rating of “Moderate Buy” and a consensus target price of $12.43.

Rush Street Interactive Company 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.