Counterpoint Mutual Funds LLC Purchases New Stake in Rush Street Interactive, Inc. $RSI

Key Points

• Counterpoint Mutual Funds LLC acquired a new stake in Rush Street Interactive, Inc., purchasing 28,069 shares valued at approximately $418,000 in the second quarter.
• Insider Einar Roosileht sold 70,000 shares of Rush Street Interactive, reducing his holdings by 7.40%, while COO Mattias Stetz also sold 30,000 shares, reflecting significant insider trading activity.
• Rush Street Interactive's stock received several rating upgrades, with target prices increasing from $15.00 to as high as $24.00, indicating strong optimism among analysts regarding its future performance.

Counterpoint Mutual Funds LLC acquired a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,069 shares of the company's stock, valued at approximately $418,000.

A number of other large investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 last quarter. ProShare Advisors LLC boosted its stake in Rush Street Interactive by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 21,410 shares of the company's stock valued at $294,000 after acquiring an additional 7,043 shares during the last quarter. Tidal Investments LLC boosted its stake in Rush Street Interactive by 6.3% in the fourth quarter. Tidal Investments LLC now owns 38,360 shares of the company's stock valued at $526,000 after acquiring an additional 2,280 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Rush Street Interactive by 545.6% during the 4th quarter. Two Sigma Advisers LP now owns 73,600 shares of the company's stock worth $1,010,000 after acquiring an additional 62,200 shares during the period. Finally, Two Sigma Investments LP bought a new stake in shares of Rush Street Interactive during the 4th quarter valued at $783,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RSI has been the topic of several recent research reports. Susquehanna restated a "positive" rating and issued a $19.00 price target (up from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. Benchmark raised their target price on Rush Street Interactive from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Needham & Company LLC boosted their target price on Rush Street Interactive from $17.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Oppenheimer increased their price target on shares of Rush Street Interactive from $16.00 to $21.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Jefferies Financial Group lifted their price objective on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.33.

Insider Activity at Rush Street Interactive

In related news, insider Einar Roosileht sold 70,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $18,810,940.50. This represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mattias Stetz sold 30,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $21.45, for a total value of $643,500.00. Following the transaction, the chief operating officer owned 261,051 shares of the company's stock, valued at approximately $5,599,543.95. This trade represents a 10.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,928,903 shares of company stock valued at $34,066,543 over the last three months. Insiders own 56.89% of the company's stock.

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock opened at $22.04 on Wednesday. The company has a market capitalization of $5.04 billion, a P/E ratio of 110.22 and a beta of 1.90. The business has a 50-day moving average of $19.41 and a two-hundred day moving average of $14.83. Rush Street Interactive, Inc. has a 1 year low of $9.54 and a 1 year high of $22.65.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating 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 business had revenue of $269.22 million during the quarter, compared to analyst estimates of $248.98 million. During the same period in the previous year, the firm earned $0.04 EPS. Rush Street Interactive'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. On average, equities analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Rush Street Interactive 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.