Topline Capital Management LLC Has $25.37 Million Stock Holdings in Rush Street Interactive, Inc. $RSI

Key Points

• Topline Capital Management LLC increased its holdings in Rush Street Interactive by 30.7%, making it the firm's 7th largest position, comprising about 5.8% of their investment portfolio.
• Several analysts have raised their price targets for Rush Street Interactive's stock, with Needham & Company and Oppenheimer both increasing their targets to $21.00, while Zacks upgraded the stock to a "strong-buy" rating.
• Rush Street Interactive reported a 22.2% increase in quarterly revenue year-over-year, totaling $269.22 million, exceeding analyst expectations by over $20 million.

Topline Capital Management LLC increased its position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 30.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,366,875 shares of the company's stock after acquiring an additional 555,552 shares during the quarter. Rush Street Interactive makes up approximately 5.8% of Topline Capital Management LLC's holdings, making the stock its 7th biggest holding. Topline Capital Management LLC owned approximately 1.04% of Rush Street Interactive worth $25,373,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in shares of Rush Street Interactive in the 4th quarter valued at $34,000. Pacer Advisors Inc. boosted its holdings in shares of Rush Street Interactive by 94.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock valued at $27,000 after purchasing an additional 1,232 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Rush Street Interactive in the 1st quarter valued at $33,000. GAMMA Investing LLC boosted its holdings in shares of Rush Street Interactive by 1,687.6% in the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after purchasing an additional 6,143 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Rush Street Interactive in the 4th quarter valued at $95,000. Institutional investors and hedge funds own 24.78% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RSI. Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Wall Street Zen lowered shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Benchmark lifted their target price on shares of Rush Street Interactive from $17.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Zacks Research upgraded shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Finally, JPMorgan Chase & Co. began coverage on shares of Rush Street Interactive in a report on Monday, June 23rd. They set a "neutral" rating and a $14.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.89.

Insider Activity

In related news, CEO Richard Todd Schwartz sold 100,000 shares of Rush Street Interactive stock in a transaction 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 owned 823,566 shares of the company's stock, valued at $15,334,798.92. The trade was a 10.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Mattias Stetz sold 30,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $19.30, for a total transaction of $579,000.00. Following the completion of the sale, the chief operating officer directly owned 291,051 shares of the company's stock, valued at $5,617,284.30. The trade was a 9.34% decrease in their position. 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 over the last three months. 56.94% of the stock is currently owned by corporate insiders.

Rush Street Interactive Price Performance

Rush Street Interactive stock traded down $0.03 during midday trading on Monday, hitting $22.31. 1,243,366 shares of the stock were exchanged, compared to its average volume of 1,520,606. Rush Street Interactive, Inc. has a 1 year low of $8.80 and a 1 year high of $22.55. The firm has a market cap of $5.10 billion, a P/E ratio of 111.53 and a beta of 1.90. The company has a 50 day moving average price of $17.14 and a two-hundred day moving average price of $13.86.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (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 firm had revenue of $269.22 million for the quarter, compared to the consensus estimate of $248.98 million. During the same quarter in the previous year, the firm posted $0.04 EPS. The firm's quarterly revenue was up 22.2% on a year-over-year basis. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

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.