Deutsche Bank AG Acquires New Position in Rush Street Interactive, Inc. $RSI

Key Points

• Deutsche Bank acquired a new RSI position, purchasing 105,406 shares worth approximately $3.14 million in the second quarter. Institutional investors and hedge funds collectively own 24.78% of the company.
• Analysts maintain a generally positive outlook, with RSI receiving a consensus “Moderate Buy” rating and an average price target of $35.22. Wells Fargo and Needham both raised their targets to $36.
• Rush Street Interactive reported quarterly revenue of $393.78 million, up 46.3% year over year and above estimates, while earnings per share matched consensus at $0.15.

Deutsche Bank AG bought a new position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 105,406 shares of the company's stock, valued at approximately $3,135,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New York State Teachers Retirement System raised its position in shares of Rush Street Interactive by 5.2% during the 1st quarter. New York State Teachers Retirement System now owns 8,441 shares of the company's stock worth $184,000 after purchasing an additional 419 shares during the period. Man Group plc grew its stake in Rush Street Interactive by 0.7% during the 2nd quarter. Man Group plc now owns 89,535 shares of the company's stock worth $1,334,000 after buying an additional 654 shares during the last quarter. Cerity Partners LLC grew its stake in Rush Street Interactive by 4.6% during the 4th quarter. Cerity Partners LLC now owns 23,675 shares of the company's stock worth $460,000 after buying an additional 1,042 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Rush Street Interactive in the second quarter worth $35,000. Finally, ProShare Advisors LLC increased its position in Rush Street Interactive by 10.3% in the fourth quarter. ProShare Advisors LLC now owns 16,740 shares of the company's stock worth $325,000 after buying an additional 1,561 shares during the period. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on RSI. Weiss Ratings lowered shares of Rush Street Interactive from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 18th. Wall Street Zen lowered shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 16th. Citigroup restated a "market outperform" rating on shares of Rush Street Interactive in a research report on Thursday, July 30th. Wells Fargo & Company raised their price target on shares of Rush Street Interactive from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Finally, Needham & Company LLC boosted their price objective on Rush Street Interactive from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.22.

Rush Street Interactive Trading Up 1.3%

Rush Street Interactive stock opened at $26.38 on Thursday. Rush Street Interactive, Inc. has a 52 week low of $15.51 and a 52 week high of $34.53. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 90.97 and a beta of 1.59. The company's 50-day moving average price is $29.32 and its two-hundred day moving average price is $25.34.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, hitting analysts' consensus estimates of $0.15. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The company had revenue of $393.78 million during the quarter, compared to analyst estimates of $367.75 million. During the same period in the prior year, the business posted $0.11 EPS. The business's revenue for the quarter was up 46.3% compared to the same quarter last year. Research analysts expect that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current fiscal year.

Insider Transactions at Rush Street Interactive

In other news, insider Paul Wierbicki sold 10,000 shares of Rush Street Interactive stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $30.12, for a total transaction of $301,200.00. Following the transaction, the insider directly owned 93,256 shares in the company, valued at approximately $2,808,870.72. This trade represents a 9.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kyle Sauers sold 23,000 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $26.65, for a total value of $612,950.00. Following the completion of the sale, the chief financial officer directly owned 629,526 shares in the company, valued at $16,776,867.90. This represents a 3.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 614,002 shares of company stock valued at $17,350,367. 52.89% of the stock is currently owned by company insiders.

Rush Street Interactive Company Profile

Rush Street Interactive NYSE: RSI is a digital gaming and sports betting company that develops and operates online wagering platforms in regulated markets. As a subsidiary of Rush Street Gaming, the company specializes in delivering interactive casino games, live dealer experiences, and sports betting services through desktop and mobile applications. Its technology infrastructure is designed to support real-time wagering, secure transactions, and responsible gaming tools across multiple jurisdictions.

The company’s flagship brand, BetRivers, offers a range of casino titles—including slots, table games, and virtual sports—alongside a comprehensive sportsbook featuring pre-game and in-play betting markets.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source