Hillsdale Investment Management Inc. Invests $7.87 Million in Rush Street Interactive, Inc. $RSI

Key Points

• Hillsdale Investment Management opened a new position in Rush Street Interactive during the first quarter, buying 361,900 shares worth about $7.87 million.
• Insider selling was notable: CEO Richard Todd Schwartz and insider Paul Wierbicki both sold shares recently, while insiders have sold more than $81 million of stock over the last 90 days.
• Analysts remain generally bullish on RSI, with an average rating of “Moderate Buy” and a consensus price target of $29.62, while the stock recently traded around the mid-$34 range after strong earnings and revenue growth.

Hillsdale Investment Management Inc. bought a new stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 361,900 shares of the company's stock, valued at approximately $7,871,000. Hillsdale Investment Management Inc. owned 0.16% of Rush Street Interactive at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new stake in Rush Street Interactive during the 4th quarter valued at $47,000. Empowered Funds LLC bought a new stake in shares of Rush Street Interactive during the 4th quarter valued at $55,000. Osaic Holdings Inc. raised its stake in shares of Rush Street Interactive by 62.2% during the 2nd quarter. Osaic Holdings Inc. now owns 4,872 shares of the company's stock valued at $73,000 after purchasing an additional 1,868 shares during the period. Lazard Asset Management LLC purchased a new stake in Rush Street Interactive during the 2nd quarter worth about $90,000. Finally, US Bancorp DE purchased a new stake in Rush Street Interactive during the 3rd quarter worth about $115,000. Hedge funds and other institutional investors own 24.78% of the company's stock.

Insiders Place Their Bets

In related news, insider Paul Wierbicki sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $30.12, for a total value of $301,200.00. Following the sale, the insider directly owned 93,256 shares of the company's stock, valued at $2,808,870.72. This trade represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 47,222 shares of Rush Street Interactive stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $31.21, for a total transaction of $1,473,798.62. Following the sale, the chief executive officer owned 374,036 shares of the company's stock, valued at approximately $11,673,663.56. The trade was a 11.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,162,379 shares of company stock worth $81,133,020. Insiders own 52.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RSI. Wells Fargo & Company lifted their target price on Rush Street Interactive from $26.00 to $29.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Jefferies Financial Group increased their price target on shares of Rush Street Interactive from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Needham & Company LLC raised their price objective on shares of Rush Street Interactive from $25.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Rush Street Interactive in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Rush Street Interactive from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.62.

Rush Street Interactive Stock Performance

NYSE:RSI opened at $34.33 on Tuesday. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 110.74 and a beta of 1.56. Rush Street Interactive, Inc. has a 52-week low of $14.38 and a 52-week high of $34.38. The stock has a fifty day moving average of $28.79 and a 200 day moving average of $23.17.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $370.36 million during the quarter, compared to analysts' expectations of $330.82 million. Rush Street Interactive had a return on equity of 17.21% and a net margin of 2.98%.The firm's revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. Equities analysts forecast that Rush Street Interactive, Inc. will post 0.47 earnings per share for the current fiscal year.

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.

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