Algert Global LLC Has $3.86 Million Stock Position in Rush Street Interactive, Inc. $RSI

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 trimmed its holdings 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 filing with the SEC. The institutional investor owned 360,145 shares of the company's stock after selling 311,875 shares during the quarter. Algert Global LLC owned 0.16% of Rush Street Interactive worth $3,861,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Nuveen LLC bought a new stake in Rush Street Interactive during the 1st quarter worth approximately $29,005,000. Driehaus Capital Management LLC grew its stake 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 worth $30,191,000 after acquiring an additional 795,719 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 worth $27,843,000 after acquiring an additional 2,004,059 shares in the last quarter. Topline Capital Management LLC bought a new position in shares of Rush Street Interactive during the 4th quarter worth approximately $24,851,000. Finally, Jupiter Asset Management Ltd. grew its stake 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 worth $14,964,000 after acquiring an additional 510,955 shares in the last quarter. 24.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $18.95, for a total transaction of $1,326,500.00. Following the completion of the sale, the insider owned 876,150 shares of the company's stock, valued at $16,603,042.50. This trade represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mattias Stetz sold 30,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $19.30, for a total value of $579,000.00. Following the sale, the chief operating officer directly owned 291,051 shares of the company's stock, valued at $5,617,284.30. This represents a 9.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,816,090 shares of company stock worth $44,026,948. 56.89% of the stock is currently owned by corporate insiders.

Rush Street Interactive Stock Down 0.1%

Shares of NYSE:RSI traded down $0.02 during midday trading on Monday, hitting $20.95. The stock had a trading volume of 1,044,478 shares, compared to its average volume of 2,240,783. Rush Street Interactive, Inc. has a 12 month low of $8.76 and a 12 month high of $21.09. The business's 50-day simple moving average is $16.50 and its 200-day simple moving average is $13.67. The company has a market cap of $4.79 billion, a P/E ratio of 104.75 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $248.98 million. During the same period last year, the business earned $0.04 earnings per share. The firm's revenue was up 22.2% on a year-over-year basis. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RSI shares. Macquarie reaffirmed an "outperform" rating and set a $16.00 price target on shares of Rush Street Interactive in a research note on Friday, May 2nd. Needham & Company LLC raised their price target on shares of Rush Street Interactive from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Susquehanna reaffirmed a "positive" rating and set a $19.00 price target (up from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. JPMorgan Chase & Co. began coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They set a "neutral" rating and a $14.00 price target for the company. Finally, Jefferies Financial Group raised their target price on shares of Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.89.

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.