Comerica Bank Invests $732,000 in Rush Street Interactive, Inc. $RSI

Comerica Bank purchased a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 68,247 shares of the company’s stock, valued at approximately $732,000.

Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in shares of Rush Street Interactive by 94.7% during the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock worth $27,000 after buying an additional 1,232 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Rush Street Interactive during the first quarter worth $33,000. Heck Capital Advisors LLC acquired a new position in shares of Rush Street Interactive during the fourth quarter worth $34,000. GAMMA Investing LLC increased its holdings 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 buying an additional 6,143 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Rush Street Interactive during the fourth quarter worth $95,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RSI shares. Wall Street Zen upgraded shares of Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a report on Friday. Oppenheimer boosted their price objective on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Needham & Company LLC boosted their price objective on shares of Rush Street Interactive from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Jefferies Financial Group boosted their price objective on shares of Rush Street Interactive from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, July 3rd. Finally, Susquehanna reissued a “positive” rating and issued a $19.00 price objective (up previously from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Rush Street Interactive presently has an average rating of “Moderate Buy” and a consensus price target of $17.89.

Rush Street Interactive Trading Down 1.7%

Shares of RSI opened at $21.15 on Friday. The stock has a market capitalization of $4.83 billion, a P/E ratio of 105.75 and a beta of 1.90. The firm’s fifty day simple moving average is $17.85 and its two-hundred day simple moving average is $14.06. Rush Street Interactive, Inc. has a 12 month low of $8.93 and a 12 month high of $22.55.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $269.22 million for the quarter, compared to analysts’ expectations of $248.98 million. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 earnings per share. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, research analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, Director Judith Gold sold 100,000 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the sale, the director owned 111,629 shares of the company’s stock, valued at approximately $2,189,044.69. This represents a 47.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Wierbicki sold 35,000 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $19.45, for a total transaction of $680,750.00. Following the sale, the insider directly owned 91,705 shares in the company, valued at $1,783,662.25. This trade represents a 27.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,821,090 shares of company stock valued at $44,988,698. 56.94% of the stock is owned by corporate insiders.

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.