Rush Street Interactive, Inc. (NYSE:RSI) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,741 shares of the company's stock after selling 20,639 shares during the quarter. Exchange Traded Concepts LLC owned 0.11% of Rush Street Interactive worth $2,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in Rush Street Interactive by 28.0% during the 4th quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock valued at $7,735,000 after purchasing an additional 123,305 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Rush Street Interactive during the 4th quarter valued at about $337,000. Assenagon Asset Management S.A. grew its stake in Rush Street Interactive by 72.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 542,376 shares of the company's stock valued at $5,814,000 after purchasing an additional 228,187 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Rush Street Interactive during the 4th quarter valued at about $783,000. Finally, Deutsche Bank AG grew its stake in Rush Street Interactive by 233.6% during the 4th quarter. Deutsche Bank AG now owns 125,699 shares of the company's stock valued at $1,725,000 after purchasing an additional 88,017 shares during the last quarter. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 193,905 shares of Rush Street Interactive stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $10.63, for a total value of $2,061,210.15. Following the sale, the chief executive officer now owns 1,599,186 shares of the company's stock, valued at approximately $16,999,347.18. This trade represents a 10.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Masi Niccolo De sold 224,337 shares of Rush Street Interactive stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $13.92, for a total transaction of $3,122,771.04. Following the completion of the sale, the director now directly owns 1,208,653 shares in the company, valued at $16,824,449.76. This represents a 15.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,355,484 shares of company stock valued at $17,169,235. 56.94% of the stock is owned by company insiders.

Rush Street Interactive Stock Up 1.6%

Shares of NYSE RSI traded up $0.22 during midday trading on Thursday, reaching $14.10. 1,492,827 shares of the stock were exchanged, compared to its average volume of 1,778,113. The firm has a 50-day simple moving average of $12.32 and a two-hundred day simple moving average of $12.86. Rush Street Interactive, Inc. has a twelve month low of $8.52 and a twelve month high of $16.78. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 128.18 and a beta of 1.85.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings results 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. 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 last year, the company earned $0.03 EPS. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. Research analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on RSI shares. Susquehanna boosted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research note on Thursday, May 1st. Wall Street Zen upgraded Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research note on Monday, June 9th. Benchmark boosted their price target on Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 28th. Wells Fargo & Company upped their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Macquarie reaffirmed an "outperform" rating and set a $16.00 price objective on shares of Rush Street Interactive in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $15.63.

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.