Federated Hermes Inc. Lowers Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

Federated Hermes Inc. lowered its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 18.7% in the fourth quarter, HoldingsChannel reports. The fund owned 1,190,126 shares of the company’s stock after selling 273,409 shares during the quarter. Federated Hermes Inc.’s holdings in Rush Street Interactive were worth $5,344,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RSI. SG Americas Securities LLC purchased a new stake in Rush Street Interactive in the third quarter valued at approximately $52,000. Fox Run Management L.L.C. acquired a new stake in shares of Rush Street Interactive during the 3rd quarter worth $107,000. Jump Financial LLC increased its holdings in shares of Rush Street Interactive by 160.3% during the 3rd quarter. Jump Financial LLC now owns 83,289 shares of the company’s stock worth $385,000 after buying an additional 51,289 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Rush Street Interactive in the 3rd quarter worth $492,000. Finally, Los Angeles Capital Management LLC acquired a new position in Rush Street Interactive in the third quarter valued at $611,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Up 0.3 %

Shares of NYSE:RSI opened at $5.95 on Friday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -22.04 and a beta of 1.71. The company has a 50 day moving average of $6.15 and a two-hundred day moving average of $5.01. Rush Street Interactive, Inc. has a 52-week low of $2.85 and a 52-week high of $7.31.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Rush Street Interactive had a negative net margin of 2.65% and a negative return on equity of 28.95%. The business had revenue of $193.85 million during the quarter, compared to analyst estimates of $181.50 million. On average, equities analysts anticipate that Rush Street Interactive, Inc. will post -0.22 earnings per share for the current year.

Insider Buying and Selling at Rush Street Interactive

In other news, insider Paul Wierbicki sold 22,743 shares of Rush Street Interactive stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $132,591.69. Following the sale, the insider now directly owns 174,982 shares of the company’s stock, valued at $1,020,145.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Paul Wierbicki sold 22,743 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total transaction of $132,591.69. Following the completion of the sale, the insider now owns 174,982 shares of the company’s stock, valued at $1,020,145.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mattias Stetz sold 13,657 shares of Rush Street Interactive stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $79,620.31. Following the completion of the sale, the chief operating officer now owns 692,045 shares of the company’s stock, valued at approximately $4,034,622.35. The disclosure for this sale can be found here. Insiders sold a total of 331,552 shares of company stock valued at $2,094,498 in the last ninety days. Insiders own 56.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Susquehanna restated a “neutral” rating and issued a $6.00 price objective (up from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. Needham & Company LLC raised their price target on shares of Rush Street Interactive from $6.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Craig Hallum raised shares of Rush Street Interactive from a “hold” rating to a “buy” rating and lifted their price target for the company from $7.00 to $8.00 in a research report on Friday, April 19th. Wells Fargo & Company increased their price objective on shares of Rush Street Interactive from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Finally, JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Friday, March 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

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.