Rush Street Interactive, Inc. $RSI Shares Purchased by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its stake in Rush Street Interactive, Inc. by 48.4%, holding 368,400 shares valued at approximately $3.95 million at the end of the first quarter.
• Rush Street Interactive reported a 22.2% increase in quarterly revenue, totaling $269.22 million, and outperformed EPS expectations by $0.03.
• Institutional investors hold 24.78% of Rush Street Interactive’s stock, with notable investments from Nuveen LLC and Price T Rowe Associates, highlighting growing interest in the company.

1832 Asset Management L.P. boosted its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 48.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 368,400 shares of the company's stock after buying an additional 120,200 shares during the quarter. 1832 Asset Management L.P. owned 0.16% of Rush Street Interactive worth $3,949,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Nuveen LLC purchased a new position in Rush Street Interactive during the 1st quarter worth approximately $29,005,000. Driehaus Capital Management LLC increased its holdings in shares of Rush Street Interactive by 56.6% during the 4th quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company's stock valued at $30,191,000 after purchasing an additional 795,719 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock valued at $27,843,000 after purchasing an additional 2,004,059 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of Rush Street Interactive by 57.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,395,868 shares of the company's stock valued at $14,964,000 after purchasing an additional 510,955 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Rush Street Interactive by 267.0% during the 4th quarter. Millennium Management LLC now owns 1,337,554 shares of the company's stock valued at $18,351,000 after purchasing an additional 973,139 shares in the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Performance

Rush Street Interactive stock traded down $0.03 during trading on Friday, reaching $22.31. The company had a trading volume of 1,243,366 shares, compared to its average volume of 1,691,940. The firm's 50-day simple moving average is $17.14 and its 200 day simple moving average is $13.88. Rush Street Interactive, Inc. has a 1-year low of $8.80 and a 1-year high of $22.55. The firm has a market capitalization of $5.10 billion, a PE ratio of 111.53 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. The company had revenue of $269.22 million for the quarter, compared to analysts' expectations of $248.98 million. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The firm's quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 EPS. Rush Street Interactive has set its FY 2025 guidance at EPS. Analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RSI shares. Zacks Research raised shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a report on Monday, June 23rd. They set a "neutral" rating and a $14.00 target price for the company. Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Wall Street Zen lowered shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Finally, Oppenheimer lifted their target price on shares of Rush Street Interactive from $16.00 to $21.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Rush Street Interactive currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.89.

Insider Transactions at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 193,905 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $15.39, for a total value of $2,984,197.95. Following the transaction, the chief executive officer directly owned 1,017,471 shares of the company's stock, valued at approximately $15,658,878.69. This trade represents a 16.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Judith Gold sold 100,000 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the completion of the transaction, the director directly owned 111,629 shares in the company, valued at approximately $2,189,044.69. This represents a 47.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,816,090 shares of company stock valued at $44,026,948. Corporate insiders own 56.94% of the company's stock.

Rush Street Interactive Company 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.