Ieq Capital LLC Takes $2.11 Million Position in Rush Street Interactive, Inc. $RSI

Key Points

• Ieq Capital acquired 71,073 shares of Rush Street Interactive in the second quarter, worth approximately $2.11 million. Institutional investors collectively own 24.78% of RSI.
• Analyst sentiment remains positive, with RSI receiving a consensus “Moderate Buy” rating and an average price target of $35.22, compared with its reported trading price of $26.09.
• RSI reported quarterly revenue of $393.78 million, up 46.3% year over year and above estimates, while matching expectations with earnings of $0.15 per share. Insiders have sold $17.35 million in shares over the past 90 days, though 52.89% of the stock remains insider-owned.

Ieq Capital LLC bought a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 71,073 shares of the company's stock, valued at approximately $2,114,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RSI. BlackRock Inc. purchased a new stake in shares of Rush Street Interactive in the second quarter worth about $448,435,000. Ameriprise Financial Inc. grew its holdings in Rush Street Interactive by 763.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,822,991 shares of the company's stock valued at $57,815,000 after buying an additional 2,496,109 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Rush Street Interactive by 84.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company's stock worth $60,121,000 after acquiring an additional 1,267,622 shares during the last quarter. Cooper Creek Partners Management LLC purchased a new stake in shares of Rush Street Interactive during the 1st quarter worth approximately $24,874,000. Finally, Two Sigma Investments LP raised its holdings in shares of Rush Street Interactive by 247.3% during the 3rd quarter. Two Sigma Investments LP now owns 1,329,550 shares of the company's stock worth $27,229,000 after acquiring an additional 946,673 shares in the last quarter. Institutional investors own 24.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RSI. Wall Street Zen cut shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 16th. Oppenheimer increased their price objective on shares of Rush Street Interactive from $30.00 to $36.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Weiss Ratings cut shares of Rush Street Interactive from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. boosted their target price on shares of Rush Street Interactive from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Finally, Wells Fargo & Company upped their target price on shares of Rush Street Interactive from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Rush Street Interactive has an average rating of "Moderate Buy" and a consensus target price of $35.22.

Insiders Place Their Bets

In other news, COO Mattias Stetz sold 20,000 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $28.03, for a total value of $560,600.00. Following the transaction, the chief operating officer directly owned 177,874 shares in the company, valued at approximately $4,985,808.22. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kyle Sauers sold 23,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.65, for a total transaction of $612,950.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 614,002 shares of company stock worth $17,350,367. 52.89% of the stock is currently owned by company insiders.

Rush Street Interactive Trading Down 1.2%

Rush Street Interactive stock opened at $26.09 on Wednesday. The firm has a 50-day moving average price of $29.36 and a 200-day moving average price of $25.27. The firm has a market capitalization of $6.05 billion, a PE ratio of 89.97 and a beta of 1.59. Rush Street Interactive, Inc. has a 12-month low of $15.51 and a 12-month high of $34.53.

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 the consensus estimate of $0.15. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%.The firm had revenue of $393.78 million for the quarter, compared to the consensus estimate of $367.75 million. During the same period in the prior year, the business posted $0.11 earnings per share. The company's revenue for the quarter was up 46.3% on a year-over-year basis. As a group, sell-side analysts predict that Rush Street Interactive, Inc. will post 0.49 earnings per share for the current fiscal year.

Rush Street Interactive 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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