AQR Capital Management LLC Has $6.42 Million Position in Rush Street Interactive, Inc. $RSI

Key Points

• AQR Capital Management LLC reduced its holdings in Rush Street Interactive by 7.6%, selling 48,930 shares and owning approximately 0.26% of the company after the transaction.
• Rush Street Interactive reported earnings of $0.11 per share, exceeding expectations and showcasing a 22.2% year-over-year revenue growth of $269.22 million for the quarter.
• Several institutional investors have recently increased their stakes in Rush Street Interactive, with Pacer Advisors Inc. boosting its holdings by 94.7% during the same period.

AQR Capital Management LLC cut its position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 7.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 598,873 shares of the company's stock after selling 48,930 shares during the period. AQR Capital Management LLC owned approximately 0.26% of Rush Street Interactive worth $6,420,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RSI. Bank of America Corp DE lifted its holdings in 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 valued at $7,735,000 after buying an additional 123,305 shares in the last quarter. Assenagon Asset Management S.A. raised its stake 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 increased its stake in Rush Street Interactive by 17.9% during the 1st quarter. Calamos Advisors LLC now owns 540,008 shares of the company's stock valued at $5,789,000 after purchasing an additional 82,067 shares in the last quarter. Jump Financial LLC increased its stake in Rush Street Interactive by 41.5% during the 1st quarter. Jump Financial LLC now owns 300,400 shares of the company's stock valued at $3,220,000 after purchasing an additional 88,155 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in Rush Street Interactive during the 4th quarter valued at approximately $783,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on RSI. Jefferies Financial Group increased their price target on shares of Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Needham & Company LLC increased their target price on shares of Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen cut shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th. Susquehanna restated a "positive" rating and set a $19.00 price objective (up from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. Finally, 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 target price for the company. One investment 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.33.

Rush Street Interactive Stock Performance

RSI traded up $0.52 during trading on Thursday, hitting $21.68. The stock had a trading volume of 1,332,836 shares, compared to its average volume of 1,427,021. Rush Street Interactive, Inc. has a twelve month low of $9.54 and a twelve month high of $22.55. The firm has a market capitalization of $4.95 billion, a P/E ratio of 108.40 and a beta of 1.90. The company's 50-day moving average price is $18.97 and its 200 day moving average price is $14.58.

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

Insider Transactions at Rush Street Interactive

In related news, insider Einar Roosileht sold 70,000 shares of Rush Street Interactive stock in a transaction dated 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 transaction, the insider directly owned 876,150 shares of the company's stock, valued at $16,603,042.50. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Judith Gold sold 100,000 shares of Rush Street Interactive stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $19.61, for a total value of $1,961,000.00. Following the completion of the transaction, the director directly owned 111,629 shares in the company, valued at $2,189,044.69. This represents a 47.25% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,958,599 shares of company stock valued at $34,479,317. Company insiders own 56.94% of the company's stock.

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.