Cubist Systematic Strategies LLC Acquires 245,126 Shares of Rush Street Interactive, Inc. $RSI

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Rush Street Interactive by 106.1%, acquiring an additional 245,126 shares, bringing its total ownership to 476,210 shares valued at approximately $5.1 million.
• Rush Street Interactive reported a quarterly earnings per share of $0.11, exceeding estimates and demonstrating a year-over-year revenue increase of 22.2% to $269.22 million.
• Institutional investors have significant stakes in Rush Street Interactive, collectively owning 24.78% of the company's stock as seen in recent investment activities by various firms.

Cubist Systematic Strategies LLC grew its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 106.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 476,210 shares of the company's stock after acquiring an additional 245,126 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.21% of Rush Street Interactive worth $5,105,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position 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 acquiring an additional 1,232 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Rush Street Interactive during the 1st quarter valued at about $33,000. Heck Capital Advisors LLC bought a new stake in shares of Rush Street Interactive during the 4th quarter valued at about $34,000. GAMMA Investing LLC lifted its position in Rush Street Interactive by 1,687.6% in the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock worth $70,000 after buying an additional 6,143 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Rush Street Interactive in the 4th quarter worth approximately $95,000. Institutional investors own 24.78% of the company's stock.

Rush Street Interactive Stock Performance

Shares of RSI stock opened at $21.33 on Thursday. Rush Street Interactive, Inc. has a fifty-two week low of $8.92 and a fifty-two week high of $22.55. The stock has a 50 day moving average price of $17.58 and a two-hundred day moving average price of $14.01. The company has a market capitalization of $4.87 billion, a P/E ratio of 106.67 and a beta of 1.90.

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 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 firm had revenue of $269.22 million during the quarter, compared to the consensus estimate of $248.98 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. 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. As a group, equities analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Insider Activity

In other news, Director Masi Niccolo De sold 446,094 shares of the business's 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 directly owned 15,203 shares of the company's stock, valued at approximately $278,975.05. The trade was a 96.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 193,905 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $15.39, for a total value of $2,984,197.95. Following the transaction, the chief executive officer directly owned 1,017,471 shares in the company, valued at $15,658,878.69. This trade represents a 16.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,821,090 shares of company stock valued at $44,988,698. Company insiders own 56.89% of the company's stock.

Wall Street Analysts Forecast Growth

RSI has been the subject of a number of recent research reports. Oppenheimer boosted their target price on Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Susquehanna restated a "positive" rating and issued a $19.00 target price (up previously from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. Jefferies Financial Group boosted their target price on Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Wall Street Zen downgraded Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, JPMorgan Chase & Co. initiated coverage on 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.

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