Caxton Associates LLP Acquires Shares of 68,154 Rush Street Interactive, Inc. $RSI

Key Points

• Caxton Associates LLP has acquired a stake of 68,154 shares in Rush Street Interactive, valued at approximately $731,000, as indicated in its most recent SEC filing.
• Multiple institutional investors have increased their holdings in Rush Street Interactive, with Deutsche Bank AG boosting its stake by 233.6% during the last quarter.
• Analysts have raised their ratings and price targets for Rush Street Interactive, with an average price target now set at $18.33 and many firms recommending the stock as a "buy" or "strong-buy."

Caxton Associates LLP purchased a new stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 68,154 shares of the company's stock, valued at approximately $731,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Arizona State Retirement System grew its stake in Rush Street Interactive by 5.4% in the 1st quarter. Arizona State Retirement System now owns 24,145 shares of the company's stock valued at $259,000 after buying an additional 1,232 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Rush Street Interactive by 94.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock valued at $27,000 after purchasing an additional 1,232 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 period. Tidal Investments LLC boosted its holdings in Rush Street Interactive by 6.3% in the 4th quarter. Tidal Investments LLC now owns 38,360 shares of the company's stock valued at $526,000 after purchasing an additional 2,280 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in Rush Street Interactive in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 24.78% of the company's stock.

Insider Activity at Rush Street Interactive

In related news, Director Masi Niccolo De sold 446,094 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $18.35, for a total transaction of $8,185,824.90. Following the transaction, the director directly owned 15,203 shares of the company's stock, valued at $278,975.05. This represents a 96.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith Gold sold 100,000 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $19.61, for a total transaction 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 trade represents a 47.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,245,368 shares of company stock valued at $38,517,025 in the last ninety days. Insiders own 56.89% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on RSI. Needham & Company LLC boosted their price objective on shares of Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. began coverage on shares of Rush Street Interactive in a report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price objective for the company. Jefferies Financial Group boosted their price objective on shares of Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Zacks Research raised shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Finally, Oppenheimer boosted their price objective on shares of Rush Street Interactive from $16.00 to $21.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.33.

Rush Street Interactive Trading Down 0.9%

NYSE RSI traded down $0.19 on Tuesday, hitting $20.92. 167,974 shares of the company were exchanged, compared to its average volume of 1,682,398. The company has a market cap of $4.78 billion, a PE ratio of 104.06 and a beta of 1.90. Rush Street Interactive, Inc. has a 12 month low of $9.54 and a 12 month high of $22.55. The stock has a fifty day moving average of $18.61 and a 200-day moving average of $14.41.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (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%. Rush Street Interactive's revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. Rush Street Interactive has set its FY 2025 guidance at EPS. On average, analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

About Rush Street Interactive

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.