Cresset Asset Management LLC Has $263,000 Position in Rush Street Interactive, Inc. $RSI

Key Points

• Cresset Asset Management LLC reduced its position in Rush Street Interactive, Inc. by 34.3%, ending the first quarter with $263,000 in holdings, representing 24,565 shares.
• Rush Street Interactive's stock achieved a 22.2% increase in revenue year-over-year, reporting a net margin of 2.48% and an earnings per share (EPS) of $0.11 for the latest quarter.
• Insiders significantly decreased ownership during the past quarter, with 2,816,090 shares sold totaling approximately $44 million, while institutional investors own 24.78% of the stock.

Cresset Asset Management LLC cut its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 34.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,565 shares of the company's stock after selling 12,819 shares during the quarter. Cresset Asset Management LLC's holdings in Rush Street Interactive were worth $263,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of Rush Street Interactive by 29.5% in the 1st quarter. American Century Companies Inc. now owns 191,324 shares of the company's stock valued at $2,051,000 after acquiring an additional 43,577 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Rush Street Interactive in the first quarter valued at approximately $417,000. Russell Investments Group Ltd. grew its stake in Rush Street Interactive by 43.6% in the first quarter. Russell Investments Group Ltd. now owns 917,711 shares of the company's stock valued at $9,838,000 after purchasing an additional 278,419 shares in the last quarter. Nuveen LLC acquired a new position in shares of Rush Street Interactive during the 1st quarter worth approximately $29,005,000. Finally, Swiss National Bank raised its stake in shares of Rush Street Interactive by 5.0% during the 1st quarter. Swiss National Bank now owns 163,100 shares of the company's stock worth $1,748,000 after purchasing an additional 7,800 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Rush Street Interactive Price Performance

Shares of RSI opened at $21.67 on Wednesday. The company's 50-day moving average is $16.66 and its 200-day moving average is $13.73. The firm has a market capitalization of $4.95 billion, a PE ratio of 108.33 and a beta of 1.90. Rush Street Interactive, Inc. has a fifty-two week low of $8.76 and a fifty-two week high of $21.80.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced 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. The business had revenue of $269.22 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 EPS. Rush Street Interactive has set its FY 2025 guidance at EPS. Analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Masi Niccolo De sold 446,094 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $18.35, for a total transaction of $8,185,824.90. Following the transaction, the director owned 15,203 shares in the company, valued at approximately $278,975.05. This trade represents a 96.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Judith Gold sold 100,000 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $19.61, for a total value of $1,961,000.00. Following the completion of the sale, the director owned 111,629 shares of the company's stock, 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. Over the last quarter, insiders have sold 2,816,090 shares of company stock valued at $44,026,948. 56.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Macquarie reissued an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Friday, May 2nd. JPMorgan Chase & Co. initiated coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They set a "neutral" rating and a $14.00 price objective on the stock. Susquehanna reiterated a "positive" rating and issued a $19.00 target price (up from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. Finally, Oppenheimer lifted their price target on Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $17.89.

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.

Want to see what other hedge funds are holding RSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rush Street Interactive, Inc. (NYSE:RSI - Free Report).

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.