Rush Street Interactive, Inc. $RSI Holdings Reduced by Calamos Advisors LLC

Key Points

• Calamos Advisors cut its Rush Street Interactive position by 46.4% in the third quarter, selling 148,373 shares and retaining 171,243 shares valued at about $3.48 million.
• Rush Street Interactive reported quarterly EPS of $0.15, topping the $0.13 consensus estimate. Revenue rose 38.8% year over year to $385.85 million, slightly below analysts’ $388.05 million forecast.
• Analysts’ average price target is $26.46, with a consensus “Moderate Buy” rating, although several firms recently lowered their targets.

Calamos Advisors LLC lowered its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 46.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,243 shares of the company's stock after selling 148,373 shares during the quarter. Calamos Advisors LLC owned about 0.07% of Rush Street Interactive worth $3,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Global Retirement Partners LLC bought a new position in Rush Street Interactive in the 2nd quarter worth approximately $35,000. CoreCap Advisors LLC acquired a new stake in Rush Street Interactive in the 2nd quarter valued at approximately $54,000. Allworth Financial LP acquired a new stake in Rush Street Interactive in the 2nd quarter valued at approximately $57,000. Integrated Wealth Concepts LLC bought a new stake in Rush Street Interactive during the 2nd quarter valued at $70,000. Finally, Quantbot Technologies LP bought a new stake in Rush Street Interactive during the 2nd quarter valued at $98,000. Institutional investors own 24.78% of the company's stock.

Rush Street Interactive Trading Down 0.2%

Shares of NYSE RSI opened at $12.26 on Monday. Rush Street Interactive, Inc. has a twelve month low of $11.27 and a twelve month high of $34.53. The firm has a 50-day moving average of $20.11 and a two-hundred day moving average of $23.56. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 37.14 and a beta of 1.80.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Rush Street Interactive had a net margin of 2.56% and a return on equity of 24.46%. The company had revenue of $385.85 million for the quarter, compared to analysts' expectations of $388.05 million. During the same quarter in the previous year, the company posted $0.09 EPS. The business's revenue was up 38.8% compared to the same quarter last year. As a group, research analysts predict that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citizens Jmp reduced their price target on Rush Street Interactive from $34.00 to $24.00 and set a "market outperform" rating for the company in a research report on Thursday, October 29th. Needham & Company LLC lowered their price target on Rush Street Interactive from $36.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, October 29th. Citigroup restated a "market outperform" rating on shares of Rush Street Interactive in a research note on Thursday, October 29th. Craig Hallum downgraded shares of Rush Street Interactive from a "buy" rating to a "hold" rating and set a $15.00 price objective for the company. in a report on Monday, November 2nd. Finally, Barclays reduced their price objective on shares of Rush Street Interactive from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.46.

Insider Buying and Selling

In related news, Director Thomas Winter bought 10,000 shares of Rush Street Interactive stock in a transaction dated Monday, November 2nd. The stock was acquired at an average cost of $11.83 per share, with a total value of $118,300.00. Following the completion of the acquisition, the director directly owned 30,497 shares in the company, valued at approximately $360,779.51. This trade represents a 48.79% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kyle Sauers sold 23,000 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $20.31, for a total value of $467,130.00. Following the completion of the transaction, the chief financial officer owned 583,526 shares of the company's stock, valued at $11,851,413.06. This trade represents a 3.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 425,664 shares of company stock valued at $9,480,199. Insiders own 52.89% of the company's stock.

Rush Street Interactive Profile

Rush Street Interactive, Inc is an online gaming company that offers real-money online casino games and sports betting. Its consumer-facing brands include BetRivers and, in some markets, PlaySugarHouse. The company also offers free-to-play gaming products.

Rush Street Interactive was established in 2012 as part of the Rush Street Gaming group and became a publicly traded company in 2020. It operates in regulated markets in the United States, Canada and Latin America, with the availability of its products varying by jurisdiction.

Richard Schwartz, a co-founder of the company, serves as its chief executive officer.

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