Rush Street Interactive, Inc. (NYSE:RSI) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE increased its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 28.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 563,769 shares of the company's stock after buying an additional 123,305 shares during the quarter. Bank of America Corp DE owned 0.25% of Rush Street Interactive worth $7,735,000 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. Exchange Traded Concepts LLC grew its stake in Rush Street Interactive by 0.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company's stock worth $3,572,000 after buying an additional 1,087 shares during the last quarter. R Squared Ltd acquired a new stake in Rush Street Interactive during the 4th quarter worth about $28,000. Arizona State Retirement System lifted its position in Rush Street Interactive by 11.0% during the 4th quarter. Arizona State Retirement System now owns 22,913 shares of the company's stock worth $314,000 after acquiring an additional 2,265 shares during the period. Rhumbline Advisers lifted its position in Rush Street Interactive by 2.4% during the 4th quarter. Rhumbline Advisers now owns 103,426 shares of the company's stock worth $1,419,000 after acquiring an additional 2,457 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in Rush Street Interactive during the 4th quarter worth about $34,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Susquehanna lifted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock a "positive" rating in a research report on Thursday, May 1st. Benchmark lifted their price target on Rush Street Interactive from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Macquarie reissued an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a report on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and issued a $17.00 price objective on shares of Rush Street Interactive in a report on Thursday, May 1st. Finally, Wall Street Zen raised Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $15.63.

Insider Buying and Selling at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 109,567 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.85, for a total value of $1,079,234.95. Following the completion of the sale, the chief executive officer now directly owns 2,082,376 shares in the company, valued at $20,511,403.60. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Einar Roosileht sold 70,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $11.53, for a total value of $807,100.00. Following the completion of the sale, the insider now owns 876,150 shares of the company's stock, valued at $10,102,009.50. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 723,805 shares of company stock valued at $7,957,809 over the last quarter. 56.94% of the stock is currently owned by insiders.

Rush Street Interactive Price Performance

NYSE RSI traded up $0.09 during trading hours on Friday, reaching $12.94. The company's stock had a trading volume of 204,918 shares, compared to its average volume of 1,829,466. The company's 50-day moving average is $11.65 and its two-hundred day moving average is $12.81. Rush Street Interactive, Inc. has a 1-year low of $8.52 and a 1-year high of $16.78. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -647.00 and a beta of 1.88.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its 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 negative return on equity of 3.73% and a negative net margin of 0.16%. The business had revenue of $262.41 million during the quarter, compared to analysts' expectations of $258.90 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The business's revenue was up 20.7% compared to the same quarter last year. Equities analysts forecast that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

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.