SG Americas Securities LLC Sells 119,420 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

SG Americas Securities LLC trimmed its holdings in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 73.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,747 shares of the company's stock after selling 119,420 shares during the period. SG Americas Securities LLC's holdings in Rush Street Interactive were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Quarry LP increased 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 worth $84,000 after acquiring an additional 1,200 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Rush Street Interactive by 25.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,645 shares of the company's stock worth $275,000 after purchasing an additional 5,840 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Rush Street Interactive in the 2nd quarter valued at about $98,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Rush Street Interactive by 13,627.6% in the first 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 in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Rush Street Interactive by 43.4% during the second quarter. Hsbc Holdings PLC now owns 49,215 shares of the company's stock worth $463,000 after buying an additional 14,894 shares during the period. 24.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Richard Todd Schwartz sold 78,593 shares of the firm's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $9.56, for a total value of $751,349.08. Following the completion of the sale, the chief executive officer now directly owns 1,984,404 shares of the company's stock, valued at $18,970,902.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Richard Todd Schwartz sold 78,593 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $9.56, for a total value of $751,349.08. Following the transaction, the chief executive officer now directly owns 1,984,404 shares of the company's stock, valued at $18,970,902.24. 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 can be accessed through this link. Also, insider Paul Wierbicki sold 20,437 shares of Rush Street Interactive stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $9.53, for a total transaction of $194,764.61. Following the sale, the insider now directly owns 174,982 shares of the company's stock, valued at $1,667,578.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 548,210 shares of company stock valued at $5,179,362 over the last 90 days. 56.89% of the stock is currently owned by insiders.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI remained flat at $11.13 during midday trading on Thursday. 1,181,763 shares of the company traded hands, compared to its average volume of 1,587,300. The firm has a market capitalization of $2.50 billion, a P/E ratio of -65.47 and a beta of 1.79. Rush Street Interactive, Inc. has a twelve month low of $3.17 and a twelve month high of $11.59. The business has a 50 day moving average of $9.96 and a 200-day moving average of $9.03.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates 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%. The company's quarterly revenue was up 33.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS. On average, research analysts predict 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 boosted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Craig Hallum boosted their price objective on shares of Rush Street Interactive from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Wells Fargo & Company raised 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 report on Thursday, August 1st. Finally, Oppenheimer boosted their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an "outperform" rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.