The Manufacturers Life Insurance Company Invests $1.55 Million in Rush Street Interactive, Inc. $RSI

Key Points

• The Manufacturers Life Insurance Company acquired 52,299 shares of Rush Street Interactive valued at approximately $1.55 million. Institutional investors own 24.78% of the company, with BlackRock also reporting a new, substantially larger position.
• Analysts remain broadly positive, with one Strong Buy, nine Buy, and three Hold ratings. The stock has an average rating of “Moderate Buy” and an average price target of $35.22.
• Rush Street Interactive reported quarterly revenue of $393.78 million, up 46.3% year over year and above expectations, while EPS of $0.15 matched estimates. Insiders sold 614,000 shares worth $17.4 million over the past 90 days, though many sales were made under pre-arranged trading plans.

The Manufacturers Life Insurance Company acquired a new stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 52,299 shares of the company's stock, valued at approximately $1,555,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in Rush Street Interactive during the second quarter worth about $448,435,000. Vanguard Group Inc. increased its position in shares of Rush Street Interactive by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 9,050,062 shares of the company's stock worth $175,843,000 after purchasing an additional 227,783 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Rush Street Interactive by 1.3% during the 2nd quarter. Alliancebernstein L.P. now owns 6,214,230 shares of the company's stock worth $92,592,000 after purchasing an additional 80,471 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Rush Street Interactive by 763.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,822,991 shares of the company's stock worth $57,815,000 after purchasing an additional 2,496,109 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Rush Street Interactive by 84.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company's stock worth $60,121,000 after purchasing an additional 1,267,622 shares in the last quarter. Institutional investors and hedge funds own 24.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RSI. Needham & Company LLC increased their price objective on Rush Street Interactive from $33.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Weiss Ratings lowered shares of Rush Street Interactive from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Rush Street Interactive from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Citigroup reissued a "market outperform" rating on shares of Rush Street Interactive in a research report on Thursday, July 30th. Finally, Benchmark boosted their price objective on shares of Rush Street Interactive from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Rush Street Interactive currently has an average rating of "Moderate Buy" and an average target price of $35.22.

Rush Street Interactive Trading Up 1.8%

Shares of NYSE RSI opened at $26.64 on Friday. The company has a market capitalization of $6.17 billion, a P/E ratio of 91.87 and a beta of 1.51. Rush Street Interactive, Inc. has a 12 month low of $15.51 and a 12 month high of $34.53. The stock has a 50 day moving average of $28.90 and a 200-day moving average of $25.73.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, meeting analysts' consensus estimates of $0.15. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%.The business had revenue of $393.78 million for the quarter, compared to analysts' expectations of $367.75 million. During the same quarter in the prior year, the business earned $0.11 EPS. The firm's revenue for the quarter was up 46.3% on a year-over-year basis. Analysts predict that Rush Street Interactive, Inc. will post 0.49 EPS for the current fiscal year.

Insider Activity

In other news, COO Mattias Stetz sold 20,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $31.22, for a total value of $624,400.00. Following the transaction, the chief operating officer directly owned 197,874 shares of the company's stock, valued at $6,177,626.28. This represents a 9.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,112 shares of Rush Street Interactive stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $28.02, for a total transaction of $3,113,358.24. Following the sale, the chief executive officer directly owned 421,258 shares of the company's stock, valued at $11,803,649.16. The trade was a 20.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 614,000 shares of company stock valued at $17,394,492 over the last ninety days. 52.89% of the stock is currently owned by company insiders.

Rush Street Interactive 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.

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