Bank of New York Mellon Corp Buys New Stake in Rush Street Interactive, Inc. $RSI

Key Points

• Bank of New York Mellon acquired 558,582 shares of Rush Street Interactive in the second quarter, worth approximately $16.6 million and representing about 0.24% of the company. Institutional investors collectively own 24.78% of RSI.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $35.22. Recent targets range from $34 to $39.
• RSI reported quarterly revenue of $393.78 million, beating estimates of $367.75 million and rising 46.3% year over year, while CFO and COO sales occurred under pre-arranged Rule 10b5-1 plans.

Bank of New York Mellon Corp purchased a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 558,582 shares of the company's stock, valued at approximately $16,612,000. Bank of New York Mellon Corp owned approximately 0.24% of Rush Street Interactive as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RSI. CoreCap Advisors LLC acquired a new position in shares of Rush Street Interactive in the 2nd quarter worth approximately $54,000. Kemnay Advisory Services Inc. bought a new stake in Rush Street Interactive in the fourth quarter valued at $47,000. Empowered Funds LLC bought a new stake in Rush Street Interactive in the fourth quarter valued at $55,000. Osaic Holdings Inc. raised its stake in Rush Street Interactive by 62.2% during the second quarter. Osaic Holdings Inc. now owns 4,872 shares of the company's stock worth $73,000 after acquiring an additional 1,868 shares in the last quarter. Finally, US Bancorp DE acquired a new position in Rush Street Interactive during the third quarter worth $115,000. Institutional investors own 24.78% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on RSI. Citizens Jmp boosted their target price on shares of Rush Street Interactive from $33.00 to $34.00 and gave the company a "market outperform" rating in a research note on Thursday, July 30th. Jefferies Financial Group reissued a "buy" rating and set a $39.00 price target on shares of Rush Street Interactive in a report on Thursday, July 30th. New Street Research set a $35.00 price target on shares of Rush Street Interactive in a research report on Thursday, July 23rd. Benchmark upped their price objective on shares of Rush Street Interactive from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Finally, Needham & Company LLC raised their price objective on shares of Rush Street Interactive from $33.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.22.

Insider Activity at Rush Street Interactive

In related news, CFO Kyle Sauers sold 23,000 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.65, for a total value of $612,950.00. Following the completion of the transaction, the chief financial officer owned 629,526 shares in the company, valued at $16,776,867.90. The trade was a 3.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mattias Stetz sold 20,000 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $28.03, for a total value of $560,600.00. Following the transaction, the chief operating officer directly owned 177,874 shares in the company, valued at approximately $4,985,808.22. This represents a 10.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 435,668 shares of company stock valued at $12,787,583 over the last three months. 52.89% of the stock is owned by company insiders.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI opened at $25.79 on Tuesday. The business has a fifty day moving average of $29.11 and a 200-day moving average of $25.52. Rush Street Interactive, Inc. has a twelve month low of $15.51 and a twelve month high of $34.53. The firm has a market cap of $5.98 billion, a PE ratio of 88.93 and a beta of 1.59.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, hitting analysts' consensus estimates of $0.15. The firm had revenue of $393.78 million for the quarter, compared to analyst estimates of $367.75 million. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The company's revenue was up 46.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS. On average, analysts anticipate that Rush Street Interactive, Inc. will post 0.49 EPS for the current fiscal year.

About Rush Street Interactive

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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