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 acquired a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 68,154 shares of the company's stock, valued at approximately $731,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in Rush Street Interactive by 1,617.7% in the 1st quarter. Alliancebernstein L.P. now owns 6,133,759 shares of the company's stock worth $65,754,000 after acquiring an additional 5,776,660 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Rush Street Interactive during the 1st quarter worth about $29,005,000. Driehaus Capital Management LLC boosted its stake in Rush Street Interactive by 12.7% in the first quarter. Driehaus Capital Management LLC now owns 2,480,268 shares of the company's stock worth $26,588,000 after purchasing an additional 279,751 shares in the last quarter. Topline Capital Management LLC increased its position in Rush Street Interactive by 30.7% in the 1st quarter. Topline Capital Management LLC now owns 2,366,875 shares of the company's stock valued at $25,373,000 after acquiring an additional 555,552 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its holdings in 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 purchasing an additional 510,955 shares during the last quarter. 24.78% of the stock is currently owned by institutional investors.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $21.47, for a total value of $1,502,900.00. Following the completion of the transaction, the insider directly owned 876,150 shares in the company, valued at approximately $18,810,940.50. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $19.45, for a total transaction of $680,750.00. Following the completion of the transaction, the insider directly owned 91,705 shares in the company, valued at approximately $1,783,662.25. The trade was a 27.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,650,067 shares of company stock valued at $44,110,755 in the last ninety days. Corporate insiders own 56.94% of the company's stock.

Rush Street Interactive Stock Down 1.7%

RSI traded down $0.36 during mid-day trading on Friday, reaching $21.20. 1,334,250 shares of the company traded hands, compared to its average volume of 1,496,764. The stock has a market capitalization of $4.84 billion, a P/E ratio of 106.00 and a beta of 1.90. The company's fifty day moving average price is $18.49 and its 200-day moving average price is $14.32. Rush Street Interactive, Inc. has a 52-week low of $9.54 and a 52-week high of $22.55.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, topping 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 firm had revenue of $269.22 million for the quarter, compared to the consensus estimate of $248.98 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The company's quarterly revenue was up 22.2% compared to the same quarter last year. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RSI shares. Jefferies Financial Group increased their price objective on 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 lifted their target price on Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Benchmark raised their target price on Rush Street Interactive from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Oppenheimer raised their price objective on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen lowered shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.33.

Rush Street Interactive Company 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.