Cresset Asset Management LLC Has $263,000 Stock 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 lessened its stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 34.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm 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.

Several other large investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its stake in 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 buying an additional 43,577 shares during the period. Fox Run Management L.L.C. acquired a new position in Rush Street Interactive in the 1st quarter valued at approximately $417,000. Russell Investments Group Ltd. increased its stake in Rush Street Interactive by 43.6% in the 1st quarter. Russell Investments Group Ltd. now owns 917,711 shares of the company's stock valued at $9,838,000 after buying an additional 278,419 shares during the period. Nuveen LLC acquired a new position in Rush Street Interactive in the 1st quarter valued at approximately $29,005,000. Finally, Swiss National Bank increased its stake in Rush Street Interactive by 5.0% in the 1st quarter. Swiss National Bank now owns 163,100 shares of the company's stock valued at $1,748,000 after buying an additional 7,800 shares during the period. Institutional investors and hedge funds own 24.78% of the company's stock.

Wall Street Analysts Forecast Growth

RSI has been the subject of several recent research reports. Zacks Research raised shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. Benchmark boosted their target price on shares of Rush Street Interactive from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen downgraded shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. initiated coverage on shares of Rush Street Interactive in a research report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 target price for the company. Finally, Jefferies Financial Group boosted their target price on shares of Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. One research 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 stock. Based on data from MarketBeat, Rush Street Interactive presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.89.

Rush Street Interactive Stock Performance

Shares of RSI stock traded down $0.03 during mid-day trading on Monday, reaching $22.31. The company's stock had a trading volume of 1,243,366 shares, compared to its average volume of 1,520,606. Rush Street Interactive, Inc. has a 1-year low of $8.80 and a 1-year high of $22.55. The company has a market cap of $5.10 billion, a P/E ratio of 111.53 and a beta of 1.90. The firm's 50-day moving average is $17.31 and its two-hundred day moving average is $13.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $269.22 million during the quarter, compared to analysts' expectations of $248.98 million. During the same quarter in the prior year, the company posted $0.04 EPS. The business's revenue was up 22.2% on a year-over-year basis. Rush Street Interactive has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Insider Buying and Selling at Rush Street Interactive

In related news, insider Einar Roosileht sold 70,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $18.95, for a total transaction of $1,326,500.00. Following the completion of the sale, the insider owned 876,150 shares in the company, valued at $16,603,042.50. This trade represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $19.45, for a total transaction of $680,750.00. Following the sale, the insider owned 91,705 shares of the company's stock, valued at $1,783,662.25. This trade represents a 27.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,721,090 shares of company stock worth $42,842,298 over the last ninety days. Company insiders own 56.89% of the company's stock.

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.