Calamos Advisors LLC Raises Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Calamos Advisors LLC increased its stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 17.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 540,008 shares of the company's stock after buying an additional 82,067 shares during the period. Calamos Advisors LLC owned 0.24% of Rush Street Interactive worth $5,789,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE raised its stake in Rush Street Interactive by 28.0% in the fourth quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock worth $7,735,000 after buying an additional 123,305 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Rush Street Interactive by 72.6% in the first quarter. Assenagon Asset Management S.A. now owns 542,376 shares of the company's stock worth $5,814,000 after buying an additional 228,187 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Rush Street Interactive in the fourth quarter worth about $337,000. Two Sigma Investments LP bought a new position in Rush Street Interactive in the fourth quarter worth about $783,000. Finally, GAMMA Investing LLC raised its stake in Rush Street Interactive by 1,687.6% in 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. 24.78% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Masi Niccolo De sold 29,696 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $13.90, for a total transaction of $412,774.40. Following the sale, the director owned 892,188 shares in the company, valued at $12,401,413.20. This represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Mattias Stetz sold 25,000 shares of the firm's 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 completion of the sale, the chief operating officer owned 321,051 shares in the company, valued at $4,815,765. This represents a 7.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,711,949 shares of company stock worth $22,540,667. Corporate insiders own 56.94% of the company's stock.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI traded down $0.47 during trading on Friday, reaching $14.45. 721,910 shares of the stock traded hands, compared to its average volume of 1,766,315. The stock has a 50-day moving average of $12.98 and a two-hundred day moving average of $12.91. Rush Street Interactive, Inc. has a 52-week low of $8.52 and a 52-week high of $16.78. The stock has a market cap of $3.31 billion, a P/E ratio of 180.65 and a beta of 1.87.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. Rush Street Interactive had a net margin of 0.87% and a return on equity of 7.35%. The firm had revenue of $262.41 million for the quarter, compared to analysts' expectations of $258.90 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The business's revenue for the quarter was up 20.7% on a year-over-year basis. Sell-side analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RSI. Wall Street Zen downgraded shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Susquehanna increased their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a research note on Thursday, May 1st. Macquarie reaffirmed an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. Benchmark raised their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Finally, Jefferies Financial Group raised their target price on shares of Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $15.89.

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.