Strs Ohio Invests $589,000 in Rush Street Interactive, Inc. $RSI

Key Points

• Strs Ohio purchased 54,900 shares of Rush Street Interactive, Inc. (NYSE:RSI) for approximately $589,000 during the first quarter, indicating strong institutional interest in the company.
• Rush Street Interactive reported earnings per share of $0.11 for the quarter, surpassing analyst estimates and reflecting a 22.2% increase in revenue year-over-year.
• Insider activity included significant stock sales by company executives, with a total of 1.93 million shares sold valued at over $34 million in the last quarter.

Strs Ohio acquired a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 54,900 shares of the company's stock, valued at approximately $589,000.

Other large investors have also recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in Rush Street Interactive by 28.0% during the 4th quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock worth $7,735,000 after buying an additional 123,305 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Rush Street Interactive by 72.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 542,376 shares of the company's stock valued at $5,814,000 after buying an additional 228,187 shares in the last quarter. Calamos Advisors LLC increased its position in shares of Rush Street Interactive by 17.9% in the 1st quarter. Calamos Advisors LLC now owns 540,008 shares of the company's stock valued at $5,789,000 after buying an additional 82,067 shares in the last quarter. Jump Financial LLC increased its position in shares of Rush Street Interactive by 41.5% in the 1st quarter. Jump Financial LLC now owns 300,400 shares of the company's stock valued at $3,220,000 after buying an additional 88,155 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Rush Street Interactive in the 4th quarter valued at $783,000. Institutional investors and hedge funds own 24.78% of the company's stock.

Insider Buying and Selling at Rush Street Interactive

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 of the company's stock, valued at approximately $2,189,044.69. The trade was a 47.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Einar Roosileht sold 70,000 shares of Rush Street Interactive stock in a transaction on Friday, August 1st. The stock was sold at an average price of $18.95, for a total transaction of $1,326,500.00. Following the completion of the transaction, the insider owned 876,150 shares in the company, valued at approximately $16,603,042.50. The trade was a 7.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,928,903 shares of company stock valued at $34,066,543 in the last quarter. Corporate insiders own 56.89% of the company's stock.

Rush Street Interactive Price Performance

Shares of RSI stock traded down $0.19 on Tuesday, reaching $22.35. 406,186 shares of the company were exchanged, compared to its average volume of 1,674,408. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 111.78 and a beta of 1.90. The company has a 50-day moving average of $19.26 and a 200-day moving average of $14.78. Rush Street Interactive, Inc. has a one year low of $9.54 and a one year high of $22.65.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. The company had revenue of $269.22 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $0.04 EPS. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on RSI shares. Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Needham & Company LLC increased their target price on Rush Street Interactive from $17.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Susquehanna reiterated a "positive" rating and set a $19.00 target price (up previously from $15.00) on shares of Rush Street Interactive in a report on Wednesday, July 30th. Zacks Research upgraded Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Finally, Wall Street Zen cut Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. One equities research 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.33.

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.