Invesco Ltd. trimmed its position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 87.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,155 shares of the company's stock after selling 395,933 shares during the period. Invesco Ltd.'s holdings in Rush Street Interactive were worth $613,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of RSI. Voya Investment Management LLC raised its holdings in shares of Rush Street Interactive by 7.9% during the fourth quarter. Voya Investment Management LLC now owns 41,276 shares of the company's stock worth $566,000 after acquiring an additional 3,026 shares in the last quarter. Northern Trust Corp raised its holdings 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 worth $9,692,000 after acquiring an additional 53,682 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Rush Street Interactive during the fourth quarter worth $6,965,000. Bank of America Corp DE raised its holdings in shares of Rush Street Interactive by 28.0% during the fourth quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock worth $7,735,000 after acquiring an additional 123,305 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Rush Street Interactive by 450.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 231,084 shares of the company's stock worth $3,170,000 after buying an additional 189,107 shares during the last quarter. 24.78% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Rush Street Interactive
In related news, insider Einar Roosileht sold 70,000 shares of Rush Street Interactive stock in a transaction dated Tuesday, September 2nd. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $19.45, for a total value of $680,750.00. Following the sale, the insider directly owned 91,705 shares in the company, valued at approximately $1,783,662.25. This trade represents 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. Company insiders own 56.94% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Jefferies Financial Group increased their target price 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. Benchmark increased their target price on shares of Rush Street Interactive from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Oppenheimer increased their target price on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Wall Street Zen raised shares of Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research report on Friday. Finally, Susquehanna reissued a "positive" rating and set a $19.00 target price (up from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Rush Street Interactive has an average rating of "Moderate Buy" and an average price target of $17.89.
View Our Latest Research Report on RSI
Rush Street Interactive Stock Performance
Shares of NYSE:RSI traded down $0.36 during midday trading on Friday, hitting $21.15. The company's stock had a trading volume of 1,301,871 shares, compared to its average volume of 1,474,776. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 105.75 and a beta of 1.90. The stock's 50 day simple moving average is $17.85 and its 200 day simple moving average is $14.06. Rush Street Interactive, Inc. has a fifty-two week low of $8.93 and a fifty-two 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 earnings per share (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 return on equity of 16.53% and a net margin of 2.48%.The firm's revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business posted $0.04 earnings per share. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.
About Rush Street Interactive
(
Free Report)
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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