Rush Street Interactive, Inc. $RSI Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Rush Street Interactive by 18.8%, owning a total of 689,701 shares valued at approximately $7.4 million as of its latest SEC filing.
• Insider Einar Roosileht sold 70,000 shares of Rush Street Interactive, while COO Mattias Stetz sold 30,000 shares, indicating considerable ongoing insider trading activity.
• Rush Street Interactive reported a 22.2% year-over-year increase in quarterly revenue, amounting to $269.22 million, alongside an adjusted earnings per share of $0.11, surpassing analyst estimates.

Goldman Sachs Group Inc. grew its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 18.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 689,701 shares of the company's stock after acquiring an additional 109,366 shares during the quarter. Goldman Sachs Group Inc. owned about 0.30% of Rush Street Interactive worth $7,394,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in shares of Rush Street Interactive during the fourth quarter valued at $34,000. Pacer Advisors Inc. boosted its position in shares of Rush Street Interactive by 94.7% during the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock valued at $27,000 after buying an additional 1,232 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Rush Street Interactive during the first quarter valued at $33,000. GAMMA Investing LLC boosted its position in shares of Rush Street Interactive by 1,687.6% during the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after buying an additional 6,143 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Rush Street Interactive during the fourth quarter valued at $95,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RSI has been the topic of several research reports. Benchmark raised their target price on Rush Street Interactive from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Oppenheimer raised 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. Needham & Company LLC raised their target price on Rush Street Interactive from $17.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Zacks Research raised Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. Finally, Susquehanna reissued a "positive" rating and issued a $19.00 target price (up from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Rush Street Interactive has a consensus rating of "Moderate Buy" and an average price target of $18.33.

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock traded up $0.19 on Friday, reaching $21.88. The company had a trading volume of 451,548 shares, compared to its average volume of 1,676,355. The firm's 50-day moving average price is $18.97 and its two-hundred day moving average price is $14.58. Rush Street Interactive, Inc. has a 1 year low of $9.54 and a 1 year high of $22.55. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 109.35 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted 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 return on equity of 16.53% and a net margin of 2.48%.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 previous year, the business earned $0.04 EPS. Rush Street Interactive's revenue was up 22.2% compared to the same quarter last year. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Insider Buying and Selling

In other news, Director Masi Niccolo De sold 446,094 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $18.35, for a total value of $8,185,824.90. Following the sale, the director owned 15,203 shares in the company, valued at $278,975.05. This represents a 96.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 193,905 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $15.39, for a total value of $2,984,197.95. Following the completion of the sale, the chief executive officer owned 1,017,471 shares in the company, valued at $15,658,878.69. The trade was a 16.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,928,903 shares of company stock valued at $34,066,543. 56.94% of the stock is currently owned by insiders.

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.