Teacher Retirement System of Texas Sells 72,380 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Teacher Retirement System of Texas lowered its stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 85.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,257 shares of the company's stock after selling 72,380 shares during the quarter. Teacher Retirement System of Texas' holdings in Rush Street Interactive were worth $131,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of RSI. Price T Rowe Associates Inc. MD lifted its position in Rush Street Interactive by 7,958.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company's stock worth $27,843,000 after buying an additional 2,004,059 shares during the last quarter. Topline Capital Management LLC bought a new stake in Rush Street Interactive in the 4th quarter worth approximately $24,851,000. Nicholas Investment Partners LP bought a new stake in Rush Street Interactive in the 4th quarter worth approximately $14,970,000. Vanguard Group Inc. lifted its position in Rush Street Interactive by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company's stock worth $117,943,000 after buying an additional 1,056,583 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Rush Street Interactive by 62.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company's stock valued at $36,540,000 after purchasing an additional 1,018,889 shares during the last quarter. Institutional investors own 24.78% of the company's stock.

Insider Buying and Selling

In other news, insider Einar Roosileht sold 70,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $14.77, for a total value of $1,033,900.00. Following the completion of the sale, the insider directly owned 876,150 shares of the company's stock, valued at $12,940,735.50. This trade represents a 7.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard Todd Schwartz sold 193,905 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $15.39, for a total value of $2,984,197.95. Following the completion of the sale, the chief executive officer directly owned 1,017,471 shares of the company's stock, valued at $15,658,878.69. The trade was a 16.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,147,520 shares of company stock valued at $30,097,728 over the last quarter. Company insiders own 56.89% of the company's stock.

Rush Street Interactive Trading Down 1.2%

NYSE:RSI opened at $14.55 on Monday. Rush Street Interactive, Inc. has a 12-month low of $8.52 and a 12-month high of $16.78. The stock has a 50-day moving average price of $13.61 and a 200 day moving average price of $13.00. The stock has a market capitalization of $3.33 billion, a P/E ratio of 181.90 and a beta of 1.87.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $262.41 million during the quarter, compared to analysts' expectations of $258.90 million. Rush Street Interactive had a return on equity of 7.35% and a net margin of 0.87%. The firm's revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the business posted $0.03 earnings per share. On average, research analysts predict that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Needham & Company LLC reiterated a "buy" rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday, May 1st. Susquehanna boosted their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, May 1st. Macquarie reissued an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. JPMorgan Chase & Co. assumed coverage on Rush Street Interactive in a research note on Monday, June 23rd. They set a "neutral" rating and a $14.00 target price on the stock. Finally, Jefferies Financial Group boosted their target price on Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Rush Street Interactive has an average rating of "Moderate Buy" and an average price target of $15.89.

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.

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