Assenagon Asset Management S.A. Reduces Stock Holdings in Rush Street Interactive, Inc. $RSI

Key Points

• Assenagon Asset Management cut its Rush Street Interactive stake by 7.6% in the first quarter, selling 51,344 shares and leaving it with 623,133 shares valued at about $13.6 million.
• Rush Street Interactive recently reported better-than-expected quarterly results, with EPS of $0.14 versus $0.12 expected and revenue of $370.36 million, up 41.1% year over year.
• Wall Street sentiment remains positive: analysts have raised price targets, and the stock carries a Moderate Buy consensus with an average target of $29.25, even as some insiders recently sold shares.

Assenagon Asset Management S.A. reduced 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 & Exchange Commission. The firm owned 623,133 shares of the company's stock after selling 51,344 shares during the quarter. Assenagon Asset Management S.A. owned 0.27% of Rush Street Interactive worth $13,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RSI. Man Group plc boosted its holdings in shares of Rush Street Interactive by 0.7% in the second quarter. Man Group plc now owns 89,535 shares of the company's stock worth $1,334,000 after buying an additional 654 shares during the last quarter. Cerity Partners LLC raised its position in Rush Street Interactive by 4.6% in the fourth quarter. Cerity Partners LLC now owns 23,675 shares of the company's stock worth $460,000 after acquiring an additional 1,042 shares during the period. ProShare Advisors LLC raised its position in Rush Street Interactive by 10.3% in the fourth quarter. ProShare Advisors LLC now owns 16,740 shares of the company's stock worth $325,000 after acquiring an additional 1,561 shares during the period. Diversified Trust Co. raised its position in Rush Street Interactive by 6.7% in the fourth quarter. Diversified Trust Co. now owns 28,864 shares of the company's stock worth $561,000 after acquiring an additional 1,815 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in shares of Rush Street Interactive by 62.2% during the 2nd quarter. Osaic Holdings Inc. now owns 4,872 shares of the company's stock worth $73,000 after acquiring an additional 1,868 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company's stock.

Rush Street Interactive Stock Performance

RSI stock opened at $31.57 on Friday. Rush Street Interactive, Inc. has a one year low of $14.38 and a one year high of $31.65. The company's fifty day moving average price is $27.06 and its 200-day moving average price is $22.15. The company has a market capitalization of $7.35 billion, a PE ratio of 101.85 and a beta of 1.58.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $370.36 million during the quarter, compared to analysts' expectations of $330.82 million. Rush Street Interactive had a net margin of 2.98% and a return on equity of 17.21%. Rush Street Interactive's quarterly revenue was up 41.1% on a year-over-year basis. During the same period last year, the company posted $0.09 earnings per share. On average, research analysts predict that Rush Street Interactive, Inc. will post 0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RSI shares. Benchmark lifted their target price on Rush Street Interactive from $24.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Needham & Company LLC raised their price objective on Rush Street Interactive from $25.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Oppenheimer lifted their price objective on Rush Street Interactive from $25.00 to $30.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Freedom Capital upgraded Rush Street Interactive to a "strong-buy" rating in a research note on Wednesday, March 11th. Finally, Wells Fargo & Company increased their target price on shares of Rush Street Interactive from $26.00 to $29.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.25.

Insider Buying and Selling

In other Rush Street Interactive news, COO Mattias Stetz sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $25.63, for a total transaction of $512,600.00. Following the completion of the transaction, the chief operating officer owned 217,874 shares in the company, valued at $5,584,110.62. This trade represents a 8.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Sauers sold 23,000 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $25.44, for a total value of $585,120.00. Following the completion of the sale, the chief financial officer directly owned 631,258 shares in the company, valued at approximately $16,059,203.52. The trade was a 3.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,111,241 shares of company stock valued at $78,182,183 in the last ninety days. Company insiders own 52.89% of the company's stock.

Rush Street Interactive Profile

Rush Street Interactive NYSE: RSI is a digital gaming and sports betting company that develops and operates online wagering platforms in regulated markets. As a subsidiary of Rush Street Gaming, the company specializes in delivering interactive casino games, live dealer experiences, and sports betting services through desktop and mobile applications. Its technology infrastructure is designed to support real-time wagering, secure transactions, and responsible gaming tools across multiple jurisdictions.

The company’s flagship brand, BetRivers, offers a range of casino titles—including slots, table games, and virtual sports—alongside a comprehensive sportsbook featuring pre-game and in-play betting markets.

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