Bank of America Corp DE Purchases 383,745 Shares of Rush Street Interactive, Inc. $RSI

Key Points

• Bank of America increased its Rush Street Interactive stake by 81.8% in the first quarter, purchasing 383,745 additional shares and bringing its holdings to 852,653 shares, valued at approximately $18.5 million.
• Rush Street Interactive reported quarterly revenue of $393.78 million, up 46.3% year over year and above analyst expectations, while earnings per share matched consensus at $0.15.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $35.22; however, insiders sold 614,002 shares worth about $17.35 million over the past 90 days.

Bank of America Corp DE grew its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 81.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 852,653 shares of the company's stock after acquiring an additional 383,745 shares during the quarter. Bank of America Corp DE owned about 0.37% of Rush Street Interactive worth $18,545,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Rush Street Interactive by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,163 shares of the company's stock worth $484,000 after purchasing an additional 1,893 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Rush Street Interactive by 18.8% during the first quarter. Goldman Sachs Group Inc. now owns 689,701 shares of the company's stock valued at $7,394,000 after buying an additional 109,366 shares during the period. Prudential Financial Inc. bought a new position in shares of Rush Street Interactive during the second quarter valued at approximately $166,000. Invesco Ltd. grew its stake in shares of Rush Street Interactive by 377.1% during the second quarter. Invesco Ltd. now owns 272,693 shares of the company's stock valued at $4,063,000 after buying an additional 215,538 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Rush Street Interactive in the second quarter worth approximately $3,766,000. Institutional investors own 24.78% of the company's stock.

Rush Street Interactive Price Performance

RSI stock opened at $25.71 on Thursday. The business has a 50-day moving average price of $29.65 and a 200 day moving average price of $25.03. The company has a market capitalization of $5.96 billion, a P/E ratio of 88.66 and a beta of 1.59. Rush Street Interactive, Inc. has a 1-year low of $15.51 and a 1-year high of $34.53.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, hitting analysts' consensus estimates of $0.15. The company had revenue of $393.78 million during the quarter, compared to analyst estimates of $367.75 million. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The firm's revenue for the quarter was up 46.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 earnings per share. On average, analysts anticipate that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on RSI shares. Jefferies Financial Group reiterated a "buy" rating and issued a $39.00 target price on shares of Rush Street Interactive in a research note on Thursday, July 30th. Wells Fargo & Company boosted their target price on shares of Rush Street Interactive from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Citigroup restated a "market outperform" rating on shares of Rush Street Interactive in a report on Thursday, July 30th. Citizens Jmp raised their price target on shares of Rush Street Interactive from $33.00 to $34.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 30th. Finally, Susquehanna raised their price target on shares of Rush Street Interactive from $30.00 to $36.00 and gave the stock a "positive" rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.22.

Insider Buying and Selling at Rush Street Interactive

In other news, insider Paul Wierbicki sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $30.12, for a total value of $301,200.00. Following the completion of the sale, the insider owned 93,256 shares of the company's stock, valued at approximately $2,808,870.72. This represents a 9.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Todd Schwartz sold 111,112 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $28.02, for a total transaction of $3,113,358.24. Following the transaction, the chief executive officer owned 421,258 shares in the company, valued at approximately $11,803,649.16. This represents a 20.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 614,002 shares of company stock worth $17,350,367. 52.89% of the stock is owned by company insiders.

About Rush Street Interactive

Rush Street Interactive NYSE: RSI is a digital gaming and sports betting company that develops and operates online wagering platforms in regulated markets. As a subsidiary of Rush Street Gaming, the company specializes in delivering interactive casino games, live dealer experiences, and sports betting services through desktop and mobile applications. Its technology infrastructure is designed to support real-time wagering, secure transactions, and responsible gaming tools across multiple jurisdictions.

The company’s flagship brand, BetRivers, offers a range of casino titles—including slots, table games, and virtual sports—alongside a comprehensive sportsbook featuring pre-game and in-play betting markets.

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