Monimus Capital Management LP Takes $1.26 Million Position in Rush Street Interactive, Inc. (NYSE:RSI)

Monimus Capital Management LP purchased a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 91,729 shares of the company’s stock, valued at approximately $1,259,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Millrace Asset Group Inc. purchased a new position in Rush Street Interactive in the third quarter worth $2,135,000. Principal Financial Group Inc. raised its position in shares of Rush Street Interactive by 656.2% during 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Rush Street Interactive by 72.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock valued at $8,907,000 after acquiring an additional 344,276 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Rush Street Interactive during the 3rd quarter worth approximately $656,000. Finally, Legato Capital Management LLC acquired a new stake in Rush Street Interactive in the fourth quarter valued at $1,897,000. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $10.75 on Friday. The company’s 50 day simple moving average is $13.73 and its 200 day simple moving average is $12.36. Rush Street Interactive, Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $16.78. The firm has a market capitalization of $2.45 billion, a P/E ratio of -537.25 and a beta of 1.92.

Insider Transactions at Rush Street Interactive

In other news, insider Einar Roosileht sold 48,968 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total value of $687,510.72. Following the completion of the transaction, the insider now directly owns 830,292 shares in the company, valued at approximately $11,657,299.68. The trade was a 5.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Todd Schwartz sold 4,419 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.75, for a total transaction of $60,761.25. Following the completion of the transaction, the chief executive officer now owns 2,392,587 shares of the company’s stock, valued at $32,898,071.25. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 960,164 shares of company stock valued at $12,870,812 over the last quarter. Corporate insiders own 56.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on RSI. Macquarie reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a research note on Thursday, February 27th. Wells Fargo & Company raised their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. Jefferies Financial Group raised their target price on Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $15.50.

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.