Rush Street Interactive, Inc. $RSI Shares Sold by Legato Capital Management LLC

Key Points

• Legato Capital Management cut its Rush Street Interactive stake by 48.6% in the fourth quarter, selling 70,823 shares and leaving it with 74,959 shares worth about $1.46 million.
• Rush Street Interactive reported better-than-expected quarterly results, with EPS of $0.14 versus $0.12 expected and revenue of $370.36 million, up 41.1% year over year.
• Insider selling has been notable, including CFO Kyle Sauers and Chairman Neil Bluhm, while analysts remain generally constructive with a consensus Moderate Buy rating and average price target of $29.25.

Legato Capital Management LLC trimmed its position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 48.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,959 shares of the company's stock after selling 70,823 shares during the period. Legato Capital Management LLC's holdings in Rush Street Interactive were worth $1,456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Rush Street Interactive during the 3rd quarter worth $4,232,000. Vanguard Group Inc. increased its holdings in shares of Rush Street Interactive by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,822,279 shares of the company's stock worth $180,680,000 after buying an additional 107,671 shares during the last quarter. Precision Wealth Strategies LLC acquired a new stake in shares of Rush Street Interactive during the 4th quarter worth $1,680,000. JPMorgan Chase & Co. increased its holdings in Rush Street Interactive by 57.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 213,943 shares of the company's stock valued at $4,382,000 after purchasing an additional 77,698 shares in the last quarter. Finally, UBS Group AG increased its holdings in Rush Street Interactive by 4.0% in the 4th quarter. UBS Group AG now owns 1,037,277 shares of the company's stock valued at $20,154,000 after purchasing an additional 40,232 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Rush Street Interactive Trading Up 0.1%

Shares of NYSE RSI opened at $27.09 on Monday. Rush Street Interactive, Inc. has a 12-month low of $11.50 and a 12-month high of $29.24. The company has a market cap of $6.30 billion, a P/E ratio of 87.38 and a beta of 1.65. The stock has a fifty day moving average price of $23.83 and a 200 day moving average price of $20.35.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The company 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 was up 41.1% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. On average, sell-side analysts forecast that Rush Street Interactive, Inc. will post 0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup reiterated an "outperform" rating on shares of Rush Street Interactive in a report on Wednesday. Oppenheimer increased their price target on Rush Street Interactive from $25.00 to $30.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on Rush Street Interactive from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Susquehanna increased their price target on Rush Street Interactive from $25.00 to $29.00 and gave the company a "positive" rating in a report on Wednesday, April 29th. Finally, Jefferies Financial Group increased their price target on Rush Street Interactive from $30.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $29.25.

Insiders Place Their Bets

In other news, CFO Kyle Sauers sold 23,000 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $28.39, for a total transaction of $652,970.00. Following the completion of the sale, the chief financial officer directly owned 654,258 shares in the company, valued at $18,574,384.62. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Neil Bluhm sold 1,371,150 shares of the firm's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $24.96, for a total value of $34,223,904.00. The SEC filing for this sale provides additional information. Insiders have sold 3,365,020 shares of company stock valued at $82,047,010 over the last ninety days. Insiders own 52.89% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.