Calamos Advisors LLC Reduces Stock Position in Rush Street Interactive, Inc. $RSI

Key Points

• Calamos Advisors LLC cut its Rush Street Interactive stake by 33.1% in the first quarter, selling 155,879 shares and ending with 315,092 shares valued at about $6.85 million.
• Insider selling was substantial, highlighted by Chairman Neil Bluhm’s sale of 1.37 million shares and a total of 3.16 million insider shares sold over the last 90 days.
• Rush Street Interactive reported stronger-than-expected quarterly results, with EPS of $0.14 and revenue of $370.36 million, while analysts maintain a consensus Moderate Buy rating and an average price target of $29.62.

Calamos Advisors LLC lessened its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 33.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 315,092 shares of the company's stock after selling 155,879 shares during the period. Calamos Advisors LLC owned 0.14% of Rush Street Interactive worth $6,853,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Rush Street Interactive by 59.0% during the first quarter. Principal Financial Group Inc. now owns 152,402 shares of the company's stock valued at $3,315,000 after acquiring an additional 56,522 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Rush Street Interactive during the first quarter worth about $1,723,000. Hsbc Holdings PLC grew its stake in shares of Rush Street Interactive by 35.5% in the first quarter. Hsbc Holdings PLC now owns 99,422 shares of the company's stock worth $2,170,000 after purchasing an additional 26,061 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Rush Street Interactive by 5.2% in the first quarter. New York State Teachers Retirement System now owns 8,441 shares of the company's stock worth $184,000 after purchasing an additional 419 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in Rush Street Interactive by 32.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 89,487 shares of the company's stock valued at $1,946,000 after purchasing an additional 22,163 shares during the period. Hedge funds and other institutional investors own 24.78% of the company's stock.

Insider Transactions at Rush Street Interactive

In related news, Chairman Neil Bluhm sold 1,371,150 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $24.96, for a total value of $34,223,904.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Judith Gold sold 50,000 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $27.58, for a total value of $1,379,000.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,162,379 shares of company stock worth $81,133,020 over the last 90 days. 52.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on RSI. Needham & Company LLC upped their price target on Rush Street Interactive from $25.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Susquehanna lifted their price objective on Rush Street Interactive from $25.00 to $29.00 and gave the stock a "positive" rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their target price on Rush Street Interactive from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Wall Street Zen downgraded Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 16th. Finally, Oppenheimer raised their price target on Rush Street Interactive from $25.00 to $30.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Rush Street Interactive presently has a consensus rating of "Moderate Buy" and an average target price of $29.62.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $33.49 on Wednesday. Rush Street Interactive, Inc. has a 1 year low of $14.38 and a 1 year high of $34.51. The stock has a market capitalization of $7.79 billion, a P/E ratio of 108.02 and a beta of 1.56. The company's 50-day moving average is $28.88 and its 200 day moving average is $23.27.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $370.36 million during the quarter, compared to analyst estimates of $330.82 million. Rush Street Interactive had a net margin of 2.98% and a return on equity of 17.21%. Rush Street Interactive's quarterly revenue was up 41.1% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. Research analysts anticipate that Rush Street Interactive, Inc. will post 0.47 earnings per share for the current year.

Rush Street Interactive Profile

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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