Rush Street Interactive, Inc. (NYSE:RSI) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE lifted its stake in Rush Street Interactive, Inc. (NYSE:RSI) by 28.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 563,769 shares of the company’s stock after purchasing an additional 123,305 shares during the quarter. Bank of America Corp DE owned about 0.25% of Rush Street Interactive worth $7,735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its position in shares of Rush Street Interactive by 178.6% during the 3rd quarter. Barclays PLC now owns 192,628 shares of the company’s stock worth $2,090,000 after purchasing an additional 123,486 shares during the period. SG Americas Securities LLC raised its holdings in Rush Street Interactive by 29.9% during the fourth quarter. SG Americas Securities LLC now owns 56,842 shares of the company’s stock worth $780,000 after purchasing an additional 13,095 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Rush Street Interactive by 0.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock valued at $3,572,000 after acquiring an additional 1,087 shares in the last quarter. R Squared Ltd purchased a new stake in Rush Street Interactive in the fourth quarter valued at approximately $28,000. Finally, Baader Bank Aktiengesellschaft grew its position in Rush Street Interactive by 66.7% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 30,000 shares of the company’s stock worth $412,000 after purchasing an additional 12,000 shares during the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Needham & Company LLC reiterated a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a report on Thursday, May 1st. Susquehanna raised their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “positive” rating in a research report on Thursday, May 1st. Macquarie reaffirmed an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. Finally, Wells Fargo & Company boosted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.63.

Insider Activity at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 106,952 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $11.86, for a total value of $1,268,450.72. Following the completion of the sale, the chief executive officer now owns 1,492,234 shares in the company, valued at $17,697,895.24. This represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Einar Roosileht sold 70,000 shares of Rush Street Interactive stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.67, for a total transaction of $816,900.00. Following the completion of the transaction, the insider now directly owns 946,150 shares in the company, valued at $11,041,570.50. This represents a 6.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 723,805 shares of company stock worth $7,957,809 in the last 90 days. 56.94% of the stock is currently owned by company insiders.

Rush Street Interactive Stock Up 0.6%

RSI stock opened at $11.85 on Monday. The stock’s 50 day moving average is $11.55 and its two-hundred day moving average is $12.81. The company has a market capitalization of $2.71 billion, a PE ratio of -592.25 and a beta of 1.88. Rush Street Interactive, Inc. has a 52-week low of $8.52 and a 52-week high of $16.78.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Rush Street Interactive had a negative return on equity of 3.73% and a negative net margin of 0.16%. The business had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. During the same period in the prior year, the company posted $0.03 EPS. The business’s revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

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.