Rush Street Interactive, Inc. $RSI Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management reduced its stake in Rush Street Interactive by 14.8%, now holding 749,458 shares valued at approximately $8.03 million.
• Rush Street Interactive reported a sizable 22.2% revenue increase year-over-year, with earnings per share of $0.11 exceeding analyst expectations.
• Insider selling has been significant, with directors and executives unloading a combined total of over 2.8 million shares in recent months.

Charles Schwab Investment Management Inc. lessened its stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 14.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 749,458 shares of the company's stock after selling 130,105 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.33% of Rush Street Interactive worth $8,034,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jupiter Asset Management Ltd. boosted its holdings in Rush Street Interactive by 57.7% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,395,868 shares of the company's stock worth $14,964,000 after acquiring an additional 510,955 shares during the period. XTX Topco Ltd boosted its stake in shares of Rush Street Interactive by 100.7% during the 1st quarter. XTX Topco Ltd now owns 54,817 shares of the company's stock valued at $588,000 after buying an additional 27,499 shares during the last quarter. Bryce Point Capital LLC purchased a new position in shares of Rush Street Interactive during the 1st quarter valued at approximately $724,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Rush Street Interactive by 19.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,935 shares of the company's stock valued at $267,000 after buying an additional 4,133 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Rush Street Interactive by 94.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock valued at $27,000 after buying an additional 1,232 shares during the last quarter. Hedge funds and other institutional investors own 24.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RSI. Needham & Company LLC increased their target price on Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Susquehanna reiterated a "positive" rating and set a $19.00 target price (up from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. JPMorgan Chase & Co. initiated coverage on 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. Oppenheimer raised their price objective on Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Jefferies Financial Group raised their price objective on Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.89.

Rush Street Interactive Price Performance

RSI traded down $0.03 during trading hours on Friday, hitting $22.31. 1,243,366 shares of the stock were exchanged, compared to its average volume of 1,520,606. Rush Street Interactive, Inc. has a 12 month low of $8.80 and a 12 month high of $22.55. The stock has a 50-day simple moving average of $17.14 and a 200-day simple moving average of $13.86. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 111.53 and a beta of 1.90.

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 for the quarter, topping the consensus estimate of $0.08 by $0.03. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%.The firm had revenue of $269.22 million for the quarter, compared to analyst estimates of $248.98 million. During the same period last year, the company earned $0.04 earnings per share. The firm's revenue for the quarter was up 22.2% on a year-over-year basis. Rush Street Interactive has set its FY 2025 guidance at EPS. Sell-side analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 30,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $19.30, for a total value of $579,000.00. Following the sale, the chief operating officer directly owned 291,051 shares of the company's stock, valued at $5,617,284.30. This trade represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard Todd Schwartz sold 100,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $18.62, for a total value of $1,862,000.00. Following the completion of the sale, the chief executive officer directly owned 823,566 shares in the company, valued at $15,334,798.92. This represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,816,090 shares of company stock valued at $44,026,948 over the last three months. 56.89% of the stock is currently owned by company insiders.

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.