Nicholas Investment Partners LP Makes New Investment in Rush Street Interactive, Inc. $RSI

Key Points

• Nicholas Investment Partners acquired 564,544 shares of Rush Street Interactive, valued at approximately $16.79 million, representing about 0.24% of the company. Institutional investors collectively own 24.78% of RSI.
• RSI reported quarterly revenue of $393.78 million, surpassing the $367.75 million consensus estimate, while revenue rose 46.3% year over year. Earnings per share matched expectations at $0.15.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $35.22, although insiders have sold 614,002 shares worth about $17.35 million over the past three months.

Nicholas Investment Partners LP purchased a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 564,544 shares of the company's stock, valued at approximately $16,790,000. Nicholas Investment Partners LP owned about 0.24% of Rush Street Interactive as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RSI. BlackRock Inc. bought a new position in Rush Street Interactive in the 2nd quarter valued at approximately $448,435,000. Vanguard Group Inc. increased its holdings in shares of Rush Street Interactive by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 9,050,062 shares of the company's stock worth $175,843,000 after purchasing an additional 227,783 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Rush Street Interactive by 1.3% in the 2nd quarter. Alliancebernstein L.P. now owns 6,214,230 shares of the company's stock worth $92,592,000 after purchasing an additional 80,471 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Rush Street Interactive by 763.6% in the third quarter. Ameriprise Financial Inc. now owns 2,822,991 shares of the company's stock worth $57,815,000 after purchasing an additional 2,496,109 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Rush Street Interactive by 84.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company's stock worth $60,121,000 after purchasing an additional 1,267,622 shares during the last quarter. Institutional investors own 24.78% of the company's stock.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, COO Mattias Stetz sold 20,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $28.03, for a total transaction of $560,600.00. Following the completion of the sale, the chief operating officer directly owned 177,874 shares of the company's stock, valued at approximately $4,985,808.22. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Wierbicki sold 10,000 shares of the company'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 transaction of $301,200.00. Following the sale, the insider directly owned 93,256 shares of the company's stock, valued at approximately $2,808,870.72. This represents a 9.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 614,002 shares of company stock valued at $17,350,367. 52.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on RSI shares. Susquehanna increased their price objective on Rush Street Interactive from $30.00 to $36.00 and gave the company a "positive" rating in a research report on Wednesday, July 29th. 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 note on Thursday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Rush Street Interactive from $26.00 to $30.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Citigroup reissued a "market outperform" rating on shares of Rush Street Interactive in a report on Thursday, July 30th. Finally, Wall Street Zen cut shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.22.

Rush Street Interactive Price Performance

Shares of RSI opened at $26.45 on Tuesday. The firm has a market capitalization of $6.13 billion, a P/E ratio of 91.20 and a beta of 1.59. Rush Street Interactive, Inc. has a one year low of $15.51 and a one year high of $34.53. The business has a fifty day moving average of $29.42 and a 200 day moving average of $25.21.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, meeting analysts' consensus estimates of $0.15. The company had revenue of $393.78 million for the quarter, compared to the consensus estimate of $367.75 million. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%.Rush Street Interactive's revenue was up 46.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. Analysts expect that Rush Street Interactive, Inc. will post 0.49 EPS 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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