Federated Hermes Inc. Raises Stock Position in Rush Street Interactive, Inc. (NYSE:RSI)

Federated Hermes Inc. lifted its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 10.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,329,825 shares of the company’s stock after acquiring an additional 130,217 shares during the quarter. Federated Hermes Inc. owned approximately 0.59% of Rush Street Interactive worth $12,753,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RSI. Allspring Global Investments Holdings LLC increased its position in shares of Rush Street Interactive by 13,627.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after acquiring an additional 11,856 shares during the period. Aigen Investment Management LP purchased a new position in shares of Rush Street Interactive during the fourth quarter worth approximately $90,000. Principal Financial Group Inc. purchased a new position in shares of Rush Street Interactive during the second quarter worth approximately $98,000. North Star Investment Management Corp. increased its holdings 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 buying an additional 15,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Rush Street Interactive during the first quarter valued at approximately $148,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rush Street Interactive

In other news, Director Judith Gold sold 150,000 shares of Rush Street Interactive stock in a transaction on Friday, August 9th. The shares were sold at an average price of $9.50, for a total transaction of $1,425,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Judith Gold sold 150,000 shares of Rush Street Interactive stock in a transaction on Friday, August 9th. The shares were sold at an average price of $9.50, for a total transaction of $1,425,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Todd Schwartz sold 78,593 shares of Rush Street Interactive stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.56, for a total transaction of $751,349.08. Following the sale, the chief executive officer now owns 1,984,404 shares of the company’s stock, valued at $18,970,902.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 548,210 shares of company stock worth $5,179,362. Company insiders own 56.89% of the company’s stock.

Rush Street Interactive Stock Down 1.9 %

Shares of RSI opened at $9.88 on Tuesday. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -58.09 and a beta of 1.78. Rush Street Interactive, Inc. has a twelve month low of $3.17 and a twelve month high of $11.59. The company has a 50 day moving average of $9.54 and a two-hundred day moving average of $8.31.

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

Analyst Upgrades and Downgrades

RSI has been the topic of several research reports. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company lifted their price objective on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Craig Hallum lifted their price objective on shares of Rush Street Interactive from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer lifted their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.17.

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.