Trexquant Investment LP Sells 222,130 Shares of Rush Street Interactive, Inc. $RSI

Key Points

• Trexquant Investment LP decreased its stake in Rush Street Interactive by 30.8%, selling 222,130 shares and holding 498,703 shares valued at approximately $5.35 million post-sale.
• Multiple hedge funds adjusted their positions in Rush Street Interactive, with notable increases from Pacer Advisors Inc. and GAMMA Investing LLC, indicating growing interest among institutional investors.
• Rush Street Interactive's stock recently soared 22% following strong quarterly earnings, reporting a net margin of 2.48% and a year-over-year revenue increase of 22.2%.

Trexquant Investment LP decreased its stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 498,703 shares of the company's stock after selling 222,130 shares during the quarter. Trexquant Investment LP owned approximately 0.22% of Rush Street Interactive worth $5,346,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new position in Rush Street Interactive in the first quarter worth $29,005,000. Nicholas Investment Partners LP acquired a new position in Rush Street Interactive in the fourth quarter worth $14,970,000. Millennium Management LLC boosted its stake in Rush Street Interactive by 267.0% in the fourth quarter. Millennium Management LLC now owns 1,337,554 shares of the company's stock worth $18,351,000 after purchasing an additional 973,139 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in Rush Street Interactive by 56.6% in the fourth quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company's stock worth $30,191,000 after purchasing an additional 795,719 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in Rush Street Interactive by 57.7% in the first quarter. Jupiter Asset Management Ltd. now owns 1,395,868 shares of the company's stock worth $14,964,000 after purchasing an additional 510,955 shares in the last quarter. Institutional investors and hedge funds own 24.78% of the company's stock.

Insider Activity at Rush Street Interactive

In related news, Director Judith Gold sold 100,000 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the completion of the transaction, the director directly owned 111,629 shares of the company's stock, valued at approximately $2,189,044.69. This represents a 47.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Masi Niccolo De sold 446,094 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $18.35, for a total value of $8,185,824.90. Following the transaction, the director directly owned 15,203 shares of the company's stock, valued at $278,975.05. This trade represents a 96.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,821,090 shares of company stock valued at $44,988,698. Insiders own 56.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on RSI. Jefferies Financial Group boosted their price objective on Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Susquehanna restated a "positive" rating and set a $19.00 target price (up previously from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. JPMorgan Chase & Co. initiated coverage on Rush Street Interactive in a research report on Monday, June 23rd. They set a "neutral" rating and a $14.00 target price for the company. Needham & Company LLC upped their price objective on Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Wall Street Zen upgraded Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Rush Street Interactive has an average rating of "Moderate Buy" and a consensus price target of $17.89.

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock traded down $0.36 during trading hours 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. Rush Street Interactive, Inc. has a 12 month low of $8.93 and a 12 month high of $22.55. The stock has a 50 day moving average of $17.85 and a 200 day moving average of $14.07. The company has a market capitalization of $4.83 billion, a PE ratio of 105.75 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. The company had revenue of $269.22 million during 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 company's revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 earnings per share. Rush Street Interactive has set its FY 2025 guidance at EPS. Equities analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

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.