Jump Financial LLC Buys 88,155 Shares of Rush Street Interactive, Inc. $RSI

Key Points

• Jump Financial LLC increased its stake in Rush Street Interactive by 41.5%, acquiring an additional 88,155 shares, bringing its total to 300,400 shares valued at approximately $3.22 million.
• Rush Street Interactive reported $0.11 earnings per share for the latest quarter, exceeding consensus estimates of $0.08, and saw a 22.2% increase in revenue year-over-year.
• Several analysts have issued buy ratings for Rush Street Interactive, with an average price target of $17.89, as the company continues to experience positive momentum in the market.

Jump Financial LLC boosted its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 41.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 300,400 shares of the company's stock after buying an additional 88,155 shares during the quarter. Jump Financial LLC owned approximately 0.13% of Rush Street Interactive worth $3,220,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. 1832 Asset Management L.P. raised its position in Rush Street Interactive by 48.4% in the 1st quarter. 1832 Asset Management L.P. now owns 368,400 shares of the company's stock valued at $3,949,000 after buying an additional 120,200 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Rush Street Interactive in the 1st quarter valued at approximately $384,000. Summit Securities Group LLC acquired a new position in Rush Street Interactive during the first quarter worth $33,000. American Century Companies Inc. boosted its holdings in Rush Street Interactive by 29.5% during the first quarter. American Century Companies Inc. now owns 191,324 shares of the company's stock worth $2,051,000 after purchasing an additional 43,577 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Rush Street Interactive during the first quarter worth $417,000. Institutional investors and hedge funds own 24.78% of the company's stock.

Analysts Set New Price Targets

RSI has been the subject of several recent research reports. 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 report on Thursday, July 31st. Wall Street Zen cut shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Oppenheimer increased their price target on Rush Street Interactive from $16.00 to $21.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. assumed coverage on Rush Street Interactive in a research report on Monday, June 23rd. They set a "neutral" rating and a $14.00 price target for the company. Finally, Needham & Company LLC increased their price target on Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given 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 price target of $17.89.

Rush Street Interactive Stock Down 0.1%

Shares of RSI traded down $0.03 during mid-day trading on Monday, hitting $22.31. 1,243,366 shares of the company's stock were exchanged, compared to its average volume of 1,520,606. Rush Street Interactive, Inc. has a 52 week low of $8.80 and a 52 week high of $22.55. The stock's 50-day simple moving average is $17.31 and its 200-day simple moving average is $13.90. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 111.53 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, topping the consensus estimate 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 period last year, the firm earned $0.04 earnings per share. The business'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. Analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Activity at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 100,000 shares of Rush Street Interactive stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $18.62, for a total transaction of $1,862,000.00. Following the sale, the chief executive officer directly owned 823,566 shares of the company's stock, valued at approximately $15,334,798.92. The trade was a 10.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Judith Gold sold 100,000 shares of Rush Street Interactive stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the sale, the director directly owned 111,629 shares in the company, valued at $2,189,044.69. This trade represents a 47.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,721,090 shares of company stock worth $42,842,298 in the last 90 days. Corporate insiders own 56.89% of the company's stock.

About Rush Street Interactive

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.