Rush Street Interactive, Inc. $RSI Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC reduced its holdings in Rush Street Interactive, Inc. by 46.4%, selling over 311,000 shares to own approximately 360,145 shares worth $3.86 million by the end of the first quarter.
• Several institutional investors have increased their stakes in Rush Street Interactive, with Bank of America boosting its investment by 28% and Assenagon Asset Management increasing its holdings by 72.6% during the same period.
• Analysts have set new price targets for Rush Street Interactive, with estimates ranging from $14.00 to $21.00, reflecting a consensus rating of "Moderate Buy" and an average price target of $17.89.

Algert Global LLC cut its position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 46.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 360,145 shares of the company's stock after selling 311,875 shares during the period. Algert Global LLC owned approximately 0.16% of Rush Street Interactive worth $3,861,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Arizona State Retirement System raised its stake in Rush Street Interactive by 5.4% during the first quarter. Arizona State Retirement System now owns 24,145 shares of the company's stock valued at $259,000 after purchasing an additional 1,232 shares in the last quarter. Pacer Advisors Inc. grew its position in Rush Street Interactive by 94.7% in the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock worth $27,000 after acquiring an additional 1,232 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Rush Street Interactive by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company's stock valued at $594,000 after purchasing an additional 1,632 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Rush Street Interactive by 6.3% in the 4th quarter. Tidal Investments LLC now owns 38,360 shares of the company's stock worth $526,000 after purchasing an additional 2,280 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in shares of Rush Street Interactive during the 4th quarter valued at approximately $34,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Price Performance

NYSE RSI traded up $0.7620 during midday trading on Friday, hitting $20.9320. 2,278,613 shares of the company traded hands, compared to its average volume of 2,178,047. Rush Street Interactive, Inc. has a 52 week low of $8.76 and a 52 week high of $21.09. The company's 50-day simple moving average is $16.36 and its 200-day simple moving average is $13.63. The company has a market cap of $4.78 billion, a PE ratio of 104.66 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $269.22 million during the quarter, compared to analysts' expectations of $248.98 million. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%.The firm's quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 EPS. Rush Street Interactive has set its FY 2025 guidance at EPS. On average, research analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RSI. 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 target price on the stock. Wall Street Zen lowered Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Macquarie reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Friday, May 2nd. Needham & Company LLC lifted their target price on Rush Street Interactive from $17.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Benchmark raised their price target on shares of Rush Street Interactive from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Rush Street Interactive currently has an average rating of "Moderate Buy" and an average price target of $17.89.

Insider Buying and Selling

In other news, Director Judith Gold sold 100,000 shares of the stock in a transaction on 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 sale, the director owned 111,629 shares in the company, valued at approximately $2,189,044.69. This represents a 47.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 193,905 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $15.39, for a total value of $2,984,197.95. Following the completion of the sale, the chief executive officer directly owned 1,017,471 shares of the company's stock, valued at $15,658,878.69. The trade was a 16.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,816,090 shares of company stock worth $44,026,948 in the last 90 days. 56.94% of the stock is owned by corporate insiders.

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.