Rush Street Interactive, Inc. (NYSE:RSI) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 36.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,587 shares of the company's stock after acquiring an additional 20,745 shares during the period. SG Americas Securities LLC's holdings in Rush Street Interactive were worth $832,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in Rush Street Interactive in the 4th quarter valued at $34,000. GAMMA Investing LLC boosted its position in shares of Rush Street Interactive by 1,687.6% during the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock worth $70,000 after purchasing an additional 6,143 shares in the last quarter. WealthTrak Capital Management LLC purchased a new stake in shares of Rush Street Interactive during the 4th quarter worth $71,000. Lazard Asset Management LLC purchased a new stake in shares of Rush Street Interactive during the 4th quarter worth $95,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Rush Street Interactive during the 4th quarter worth $148,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RSI shares. JPMorgan Chase & Co. started coverage on Rush Street Interactive in a research note on Monday. They set a "neutral" rating and a $14.00 price target for the company. 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 note on Friday, February 28th. 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 note on Thursday, May 1st. Macquarie reaffirmed an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a research note on Friday, May 2nd. Finally, Wall Street Zen raised shares of Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $15.44.

Rush Street Interactive Stock Up 2.5%

Shares of RSI traded up $0.34 during trading on Monday, reaching $14.18. The company's stock had a trading volume of 1,345,886 shares, compared to its average volume of 1,773,578. The company has a fifty day moving average of $12.47 and a two-hundred day moving average of $12.84. Rush Street Interactive, Inc. has a twelve month low of $8.52 and a twelve month high of $16.78. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 177.27 and a beta of 1.85.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its 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 return on equity of 7.35% and a net margin of 0.87%. The company had revenue of $262.41 million for the quarter, compared to analyst estimates of $258.90 million. During the same period in the prior year, the company posted $0.03 EPS. Rush Street Interactive's quarterly revenue was up 20.7% on a year-over-year basis. As a group, equities analysts forecast that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Einar Roosileht sold 60,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $10.69, for a total transaction of $641,400.00. Following the transaction, the insider now directly owns 956,150 shares of the company's stock, valued at approximately $10,221,243.50. This trade represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 193,905 shares of the firm's 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 transaction, the chief executive officer now directly owns 1,599,186 shares in the company, valued at $16,999,347.18. This trade represents a 10.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,671,949 shares of company stock worth $21,619,717 over the last ninety days. 56.89% of the stock is owned by insiders.

About Rush Street Interactive

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.