Rush Street Interactive, Inc. (NYSE:RSI) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 11.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,851 shares of the company’s stock after selling 1,723 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Rush Street Interactive were worth $138,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in RSI. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive in the 4th quarter valued at $34,000. GAMMA Investing LLC lifted its stake in shares of Rush Street Interactive by 1,687.6% during the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company’s stock worth $70,000 after purchasing an additional 6,143 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in shares of Rush Street Interactive during the fourth quarter worth about $71,000. Lazard Asset Management LLC acquired a new position in shares of Rush Street Interactive during the fourth quarter worth about $95,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Rush Street Interactive during the fourth quarter worth about $148,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Wall Street Analyst Weigh In

RSI has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Rush Street Interactive from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a report on Thursday, May 1st. Susquehanna lifted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “positive” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. began coverage on Rush Street Interactive in a research report on Monday, June 23rd. They set a “neutral” rating and a $14.00 target price on the stock. Finally, Benchmark upped their target price on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, July 1st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.89.

Rush Street Interactive Price Performance

NYSE:RSI opened at $15.52 on Thursday. Rush Street Interactive, Inc. has a 12-month low of $8.52 and a 12-month high of $16.78. The firm has a market capitalization of $3.55 billion, a P/E ratio of 194.02 and a beta of 1.87. The business has a 50 day simple moving average of $13.17 and a 200 day simple moving average of $12.96.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $262.41 million during the quarter, compared to analyst estimates of $258.90 million. Rush Street Interactive had a return on equity of 7.35% and a net margin of 0.87%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. Research analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Mattias Stetz sold 25,000 shares of Rush Street Interactive stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $15.00, for a total transaction of $375,000.00. Following the sale, the chief operating officer owned 321,051 shares of the company’s stock, valued at approximately $4,815,765. The trade was a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $14.77, for a total value of $1,033,900.00. Following the transaction, the insider owned 876,150 shares of the company’s stock, valued at $12,940,735.50. This trade represents a 7.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,147,520 shares of company stock worth $30,097,728. 56.94% of the stock is currently owned by corporate insiders.

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.