Fox Run Management L.L.C. Acquires New Stake in Rush Street Interactive, Inc. $RSI

Key Points

• Fox Run Management L.L.C. has made a new investment in Rush Street Interactive, Inc. by acquiring 38,943 shares valued at approximately $417,000 in the first quarter.
• Insider selling activity included CEO Richard Todd Schwartz offloading 193,905 shares for nearly $2.98 million, reducing his stake by 16%, while Director Masi Niccolo De sold 446,094 shares worth over $8.18 million, decreasing his position by 96.7%.
• Analysts have mixed ratings for Rush Street Interactive, with a recent downgrade to "buy" from a "strong-buy" rating, and a consensus price target of $17.89 suggesting moderate buy interest.

Fox Run Management L.L.C. purchased a new stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 38,943 shares of the company's stock, valued at approximately $417,000.

Several other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of Rush Street Interactive by 43.6% during the 1st quarter. Russell Investments Group Ltd. now owns 917,711 shares of the company's stock worth $9,838,000 after acquiring an additional 278,419 shares in the last quarter. Nuveen LLC acquired a new stake in Rush Street Interactive during the 1st quarter valued at approximately $29,005,000. Swiss National Bank lifted its stake in Rush Street Interactive by 5.0% during the 1st quarter. Swiss National Bank now owns 163,100 shares of the company's stock valued at $1,748,000 after acquiring an additional 7,800 shares during the period. Jupiter Asset Management Ltd. lifted its stake in shares of Rush Street Interactive by 57.7% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,395,868 shares of the company's stock valued at $14,964,000 after purchasing an additional 510,955 shares during the period. Finally, XTX Topco Ltd lifted its stake in shares of Rush Street Interactive by 100.7% in the 1st quarter. XTX Topco Ltd now owns 54,817 shares of the company's stock valued at $588,000 after purchasing an additional 27,499 shares during the period. Institutional investors own 24.78% of the company's stock.

Insider Activity

In other news, Director Judith Gold sold 100,000 shares of Rush Street Interactive 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 transaction, the director directly owned 111,629 shares of the company's stock, valued at $2,189,044.69. The trade was a 47.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Masi Niccolo De sold 446,094 shares of Rush Street Interactive stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $18.35, for a total transaction of $8,185,824.90. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 2,816,090 shares of company stock valued at $44,026,948 in the last ninety days. 56.89% of the stock is currently owned by company insiders.

Rush Street Interactive Trading Up 3.8%

NYSE:RSI traded up $0.7620 during mid-day trading on Friday, hitting $20.9320. The stock had a trading volume of 2,278,613 shares, compared to its average volume of 2,240,783. The stock has a 50-day simple moving average of $16.36 and a two-hundred day simple moving average of $13.62. The company has a market capitalization of $4.78 billion, a PE ratio of 104.66 and a beta of 1.90. Rush Street Interactive, Inc. has a twelve month low of $8.76 and a twelve month high of $21.09.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $248.98 million. During the same quarter last year, the company earned $0.04 earnings per share. The firm's revenue for the quarter was up 22.2% on a year-over-year basis. Rush Street Interactive has set its FY 2025 guidance at EPS. Sell-side analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RSI. JPMorgan Chase & Co. began coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They issued a "neutral" rating and a $14.00 target price for the company. Oppenheimer increased their target price 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. Jefferies Financial Group increased 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 report on Thursday, July 3rd. Wall Street Zen lowered shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Finally, Benchmark increased 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 note 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $17.89.

Rush Street Interactive Company 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.