EntryPoint Capital LLC Makes New Investment in Rush Street Interactive, Inc. $RSI

Key Points

• EntryPoint Capital LLC acquired 35,809 shares of Rush Street Interactive, Inc., valued at approximately $384,000, in the first quarter, contributing to an overall increase in institutional ownership of the company.
• Insider transactions saw Director Judith Gold sell 100,000 shares for $1.96 million, representing a 47.25% decrease in her ownership, while other insiders sold a total of 2.8 million shares over the past 90 days.
• Financial analysts report a mixed outlook for Rush Street Interactive, with several firms adjusting their target prices between $14.00 to $21.00, reflecting various ratings from "buy" to "neutral."

EntryPoint Capital LLC purchased a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 35,809 shares of the company's stock, valued at approximately $384,000.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Rush Street Interactive by 28.0% during the 4th quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock worth $7,735,000 after acquiring an additional 123,305 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Rush Street Interactive by 72.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 542,376 shares of the company's stock worth $5,814,000 after acquiring an additional 228,187 shares in the last quarter. Calamos Advisors LLC boosted its position in shares of Rush Street Interactive by 17.9% during the 1st quarter. Calamos Advisors LLC now owns 540,008 shares of the company's stock worth $5,789,000 after acquiring an additional 82,067 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Rush Street Interactive during the 4th quarter worth approximately $783,000. Finally, 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 acquiring an additional 6,143 shares in the last quarter. Institutional investors and hedge funds own 24.78% of the company's stock.

Rush Street Interactive Price Performance

NYSE RSI traded up $0.7620 during mid-day trading on Friday, reaching $20.9320. 2,278,613 shares of the stock were exchanged, compared to its average volume of 2,178,047. Rush Street Interactive, Inc. has a one year low of $8.76 and a one year high of $21.09. The stock has a 50 day simple moving average of $16.36 and a 200-day simple moving average of $13.63. The stock has a market cap of $4.78 billion, a P/E ratio of 104.66 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 for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The business had revenue of $269.22 million during the quarter, compared to the consensus estimate of $248.98 million. During the same quarter last year, the firm earned $0.04 earnings per share. Rush Street Interactive's quarterly revenue was up 22.2% on a year-over-year basis. Rush Street Interactive has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RSI shares. Oppenheimer increased their price target on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Macquarie reiterated an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a research report on Friday, May 2nd. Needham & Company LLC increased their price objective on shares of Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. assumed coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price objective for the company. Finally, Susquehanna reissued a "positive" rating and issued a $19.00 price objective (up previously from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Rush Street Interactive currently has a consensus rating of "Moderate Buy" and an average target price of $17.89.

Insider Buying and Selling

In related news, Director Judith Gold sold 100,000 shares of Rush Street Interactive stock in a transaction on Monday, August 4th. The shares were 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 owned 111,629 shares of the company's stock, valued at $2,189,044.69. This trade represents a 47.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Masi Niccolo De sold 446,094 shares of Rush Street Interactive stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $18.35, for a total transaction of $8,185,824.90. Following the transaction, the director directly owned 15,203 shares of the company's stock, valued at $278,975.05. This represents a 96.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,816,090 shares of company stock valued at $44,026,948 over the last quarter. 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.