Pekin Hardy Strauss Inc. Takes $560,000 Position in Rush Street Interactive, Inc. (NYSE:RSI)

Pekin Hardy Strauss Inc. purchased a new stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 52,240 shares of the company's stock, valued at approximately $560,000.

Several other hedge funds and other institutional investors have also modified their holdings of RSI. Price T Rowe Associates Inc. MD boosted its stake in Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock valued at $27,843,000 after purchasing an additional 2,004,059 shares during the period. Topline Capital Management LLC acquired a new position in Rush Street Interactive during the 4th quarter valued at about $24,851,000. William Blair Investment Management LLC acquired a new position in Rush Street Interactive during the 4th quarter valued at about $21,635,000. Nicholas Investment Partners LP acquired a new position in Rush Street Interactive during the 4th quarter valued at about $14,970,000. Finally, Vanguard Group Inc. boosted its stake in Rush Street Interactive by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock valued at $117,943,000 after purchasing an additional 1,056,583 shares during the period. 24.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rush Street Interactive

In other news, insider Einar Roosileht sold 70,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $14.77, for a total transaction of $1,033,900.00. Following the sale, the insider owned 876,150 shares in the company, valued at $12,940,735.50. The trade was a 7.40% decrease in their ownership of the stock. 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 58,453 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $15.28, for a total transaction of $893,161.84. Following the sale, the director owned 446,094 shares in the company, valued at $6,816,316.32. This represents a 11.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,147,520 shares of company stock valued at $30,097,728 over the last quarter. Company insiders own 56.94% of the company's stock.

Rush Street Interactive Trading Down 3.0%

Shares of NYSE RSI traded down $0.46 during midday trading on Friday, reaching $14.87. The company's stock had a trading volume of 959,180 shares, compared to its average volume of 1,765,446. The company has a 50 day moving average price of $13.31 and a 200 day moving average price of $12.98. Rush Street Interactive, Inc. has a one year low of $8.52 and a one year high of $16.78. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 185.90 and a beta of 1.87.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping 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 business had revenue of $262.41 million for the quarter, compared to the consensus estimate of $258.90 million. During the same period in the previous year, the firm earned $0.03 EPS. The business's revenue for the quarter was up 20.7% on a year-over-year basis. Research analysts anticipate that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on RSI shares. Wall Street Zen downgraded shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Macquarie restated an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, May 1st. Susquehanna boosted 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 report on Thursday, May 1st. Finally, Benchmark boosted their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $15.89.

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.