Exchange Traded Concepts LLC Has $2.81 Million Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Exchange Traded Concepts LLC cut its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 13.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,293 shares of the company’s stock after selling 39,050 shares during the quarter. Exchange Traded Concepts LLC owned about 0.12% of Rush Street Interactive worth $2,813,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RSI. Allspring Global Investments Holdings LLC raised its stake in Rush Street Interactive by 13,627.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares during the last quarter. Quarry LP raised its position in shares of Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after buying an additional 1,200 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Rush Street Interactive in the second quarter valued at about $98,000. CWM LLC grew its position in Rush Street Interactive by 425.6% during the third quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after buying an additional 7,457 shares in the last quarter. Finally, North Star Investment Management Corp. increased its stake in Rush Street Interactive by 303.9% during the first quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock valued at $134,000 after acquiring an additional 15,500 shares during the period. 24.78% of the stock is owned by institutional investors.

Rush Street Interactive Stock Performance

Shares of NYSE RSI opened at $11.36 on Tuesday. The business has a fifty day moving average of $9.87 and a two-hundred day moving average of $8.97. Rush Street Interactive, Inc. has a 52-week low of $3.17 and a 52-week high of $11.59. The stock has a market cap of $2.56 billion, a PE ratio of -66.82 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The firm had revenue of $220.38 million for the quarter, compared to analyst estimates of $201.37 million. Rush Street Interactive had a negative net margin of 0.84% and a negative return on equity of 12.45%. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) earnings per share. Analysts predict that Rush Street Interactive, Inc. will post -0.01 earnings per share for the current year.

Insider Buying and Selling at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 40,498 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $10.18, for a total transaction of $412,269.64. Following the sale, the chief executive officer now owns 1,862,997 shares in the company, valued at approximately $18,965,309.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Richard Todd Schwartz sold 40,498 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $10.18, for a total transaction of $412,269.64. Following the transaction, the chief executive officer now owns 1,862,997 shares in the company, valued at $18,965,309.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kyle Sauers sold 108,682 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $9.50, for a total transaction of $1,032,479.00. Following the sale, the chief financial officer now directly owns 441,492 shares in the company, valued at approximately $4,194,174. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 548,210 shares of company stock worth $5,179,362. 56.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RSI. Oppenheimer lifted their price objective on Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Craig Hallum increased their price objective on shares of Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company upped their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.17.

Rush Street Interactive 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.