Nicholas Investment Partners LP Cuts Holdings in Rush Street Interactive, Inc. $RSI

Key Points

• Nicholas Investment Partners LP cut its Rush Street Interactive stake by 57.9% in the fourth quarter, selling 796,325 shares and ending with 580,176 shares worth about $11.27 million.
• Rush Street Interactive reported better-than-expected quarterly results, posting EPS of $0.14 versus the $0.12 estimate and revenue of $370.36 million, up 41.1% from a year earlier.
• Despite some analyst caution, the stock has a Moderate Buy consensus rating, with several firms recently raising price targets to as high as $32.

Nicholas Investment Partners LP reduced its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 57.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 580,176 shares of the company's stock after selling 796,325 shares during the quarter. Nicholas Investment Partners LP owned about 0.25% of Rush Street Interactive worth $11,273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in RSI. Ameriprise Financial Inc. raised its position in Rush Street Interactive by 763.6% in the third quarter. Ameriprise Financial Inc. now owns 2,822,991 shares of the company's stock valued at $57,815,000 after purchasing an additional 2,496,109 shares during the period. Two Sigma Investments LP raised its position in Rush Street Interactive by 247.3% in the third quarter. Two Sigma Investments LP now owns 1,329,550 shares of the company's stock valued at $27,229,000 after purchasing an additional 946,673 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Rush Street Interactive by 47.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,127,031 shares of the company's stock valued at $43,562,000 after purchasing an additional 683,486 shares during the period. Goldman Sachs Group Inc. raised its position in Rush Street Interactive by 76.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,341,472 shares of the company's stock valued at $26,065,000 after purchasing an additional 580,568 shares during the period. Finally, Norges Bank purchased a new position in Rush Street Interactive in the fourth quarter valued at about $10,972,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Rush Street Interactive Stock Performance

NYSE:RSI opened at $29.55 on Friday. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 95.32 and a beta of 1.58. Rush Street Interactive, Inc. has a one year low of $13.20 and a one year high of $29.80. The stock has a 50-day simple moving average of $25.53 and a 200 day simple moving average of $21.35.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $370.36 million during the quarter, compared to the consensus estimate of $330.83 million. Rush Street Interactive had a return on equity of 17.21% and a net margin of 2.98%.The company's revenue for the quarter was up 41.1% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. On average, equities research analysts forecast that Rush Street Interactive, Inc. will post 0.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 710,000 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $24.96, for a total value of $17,721,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mattias Stetz sold 74,500 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $24.96, for a total value of $1,859,520.00. Following the completion of the transaction, the chief operating officer owned 237,874 shares of the company's stock, valued at approximately $5,937,335.04. The trade was a 23.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 3,136,241 shares of company stock valued at $78,637,133. 52.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen lowered Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 16th. Jefferies Financial Group raised their price objective on Rush Street Interactive from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Oppenheimer raised their price objective on Rush Street Interactive from $25.00 to $30.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Benchmark raised their price objective on Rush Street Interactive from $24.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Freedom Capital raised Rush Street Interactive to a "strong-buy" rating in a research report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Rush Street Interactive currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.25.

About Rush Street Interactive

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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