Rush Street Interactive, Inc. $RSI Shares Acquired by PDT Partners LLC

Key Points

• PDT Partners LLC increased its stake in Rush Street Interactive by 285.6% in Q1 2023, acquiring an additional 139,094 shares and owning about 0.08% of the company worth $2,013,000.
• Rush Street Interactive reported $0.11 earnings per share in its recent quarterly results, exceeding analysts' estimates of $0.08, with a revenue increase of 22.2% year-over-year.
• Several analysts have raised their price targets for Rush Street Interactive, with a new average target price of $17.89, reflecting a positive outlook on the stock's performance.

PDT Partners LLC raised its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 285.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 187,803 shares of the company's stock after acquiring an additional 139,094 shares during the quarter. PDT Partners LLC owned approximately 0.08% of Rush Street Interactive worth $2,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. State of Tennessee Department of Treasury purchased a new position in shares of Rush Street Interactive during the 4th quarter valued at $167,000. Voya Investment Management LLC lifted its stake in shares of Rush Street Interactive by 7.9% during the 4th quarter. Voya Investment Management LLC now owns 41,276 shares of the company's stock valued at $566,000 after buying an additional 3,026 shares in the last quarter. Northern Trust Corp raised its position in shares of Rush Street Interactive by 8.2% during the fourth quarter. Northern Trust Corp now owns 706,386 shares of the company's stock valued at $9,692,000 after buying an additional 53,682 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Rush Street Interactive by 53.1% during the fourth quarter. AQR Capital Management LLC now owns 647,803 shares of the company's stock valued at $8,888,000 after buying an additional 224,551 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Rush Street Interactive during the fourth quarter valued at approximately $6,965,000. Hedge funds and other institutional investors own 24.78% of the company's stock.

Insider Buying and Selling

In other news, Director Judith Gold sold 100,000 shares of Rush Street Interactive stock in a transaction 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 completion of the sale, the director directly owned 111,629 shares in the company, valued at approximately $2,189,044.69. The trade was a 47.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $19.45, for a total transaction of $680,750.00. Following the sale, the insider owned 91,705 shares of the company's stock, valued at $1,783,662.25. The trade was a 27.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,821,090 shares of company stock valued at $44,988,698 over the last quarter. Insiders own 56.94% of the company's stock.

Rush Street Interactive Stock Performance

NYSE RSI traded down $0.36 on Friday, hitting $21.15. 1,301,871 shares of the stock were exchanged, compared to its average volume of 1,474,776. The stock has a fifty day moving average price of $17.85 and a two-hundred day moving average price of $14.06. The firm has a market capitalization of $4.83 billion, a P/E ratio of 105.75 and a beta of 1.90. Rush Street Interactive, Inc. has a 52-week low of $8.93 and a 52-week high of $22.55.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $269.22 million for the quarter, compared to the consensus estimate of $248.98 million. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The firm's revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 EPS. Rush Street Interactive has set its FY 2025 guidance at EPS. Sell-side analysts expect that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on RSI shares. Zacks Research upgraded shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 25th. Jefferies Financial Group boosted 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 note on Thursday, July 3rd. Susquehanna reiterated a "positive" rating and issued a $19.00 price target (up previously from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. Benchmark boosted their price target on shares of Rush Street Interactive from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Rush Street Interactive has an average rating of "Moderate Buy" and an average target price of $17.89.

Rush Street Interactive Company Profile

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.