Rush Street Interactive, Inc. $RSI Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its ownership in Rush Street Interactive, Inc. by 3.5% during Q2, acquiring an additional 18,890 shares for a total of 561,266 shares.
• Several analysts have upgraded Rush Street Interactive's stock ratings, with Zacks Research moving it from "hold" to "strong-buy", and price targets reaching as high as $21.00.
• The company's Q2 earnings exceeded expectations with reported $0.11 EPS, surpassing the analysts' consensus estimate of $0.08, alongside a revenue increase of 22.2% year-over-year.

Assenagon Asset Management S.A. grew its position in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 561,266 shares of the company's stock after buying an additional 18,890 shares during the quarter. Assenagon Asset Management S.A. owned 0.25% of Rush Street Interactive worth $8,363,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RSI. Pacer Advisors Inc. raised its stake in 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 purchased a new stake in shares of Rush Street Interactive during the 1st quarter valued at $33,000. Heck Capital Advisors LLC purchased a new stake in Rush Street Interactive during the fourth quarter valued at about $34,000. GAMMA Investing LLC grew its holdings in shares of Rush Street Interactive by 1,687.6% during the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock worth $70,000 after purchasing an additional 6,143 shares during the period. Finally, Highland Capital Management LLC acquired a new stake in shares of Rush Street Interactive in the first quarter worth $169,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Zacks Research upgraded Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Jefferies Financial Group increased their price target on shares of Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $17.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. initiated coverage on Rush Street Interactive in a report on Monday, June 23rd. They set a "neutral" rating and a $14.00 target price for the company. Finally, Oppenheimer increased their price objective on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Rush Street Interactive currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.33.

Rush Street Interactive Stock Down 2.2%

Shares of NYSE RSI opened at $22.04 on Wednesday. Rush Street Interactive, Inc. has a 12 month low of $9.54 and a 12 month high of $22.65. The business has a fifty day simple moving average of $19.41 and a 200-day simple moving average of $14.83. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 110.22 and a beta of 1.90.

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, beating analysts' consensus estimates 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 business had revenue of $269.22 million for the quarter, compared to analyst estimates of $248.98 million. During the same quarter in the previous year, the business earned $0.04 earnings per share. The firm's revenue was up 22.2% compared to the same quarter last year. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Mattias Stetz sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $21.45, for a total transaction of $643,500.00. Following the completion of the sale, the chief operating officer directly owned 261,051 shares in the company, valued at approximately $5,599,543.95. This trade represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Einar Roosileht sold 70,000 shares of Rush Street Interactive stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $21.47, for a total transaction of $1,502,900.00. Following the sale, the insider directly owned 876,150 shares of the company's stock, valued at $18,810,940.50. This trade represents a 7.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,928,903 shares of company stock valued at $34,066,543 over the last ninety days. 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.

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