Truvestments Capital LLC Acquires Shares of 50,756 Rush Street Interactive, Inc. $RSI

Key Points

• Truvestments Capital LLC has acquired 50,756 shares of Rush Street Interactive, valued at approximately $544,000, indicating significant investor interest in the stock.
• Rush Street Interactive reported $0.11 EPS for its latest quarter, surpassing analysts' expectations of $0.08, with revenue reaching $269.22 million, a 22.2% increase year-over-year.
• Institutional investors own nearly 25% of Rush Street Interactive's stock, reflecting growing confidence among hedge funds and investment firms in the company's performance.

Truvestments Capital LLC acquired a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,756 shares of the company's stock, valued at approximately $544,000.

Several other institutional investors have also added to or reduced their stakes in RSI. PEAK6 LLC lifted its holdings in shares of Rush Street Interactive by 34.2% in the first quarter. PEAK6 LLC now owns 75,536 shares of the company's stock worth $810,000 after buying an additional 19,236 shares in the last quarter. Comerica Bank bought a new position in Rush Street Interactive during the first quarter valued at approximately $732,000. Penn Capital Management Company LLC bought a new position in Rush Street Interactive during the first quarter valued at approximately $5,360,000. Jump Financial LLC boosted its stake in shares of Rush Street Interactive by 41.5% during the first quarter. Jump Financial LLC now owns 300,400 shares of the company's stock valued at $3,220,000 after purchasing an additional 88,155 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in shares of Rush Street Interactive by 48.4% during the first quarter. 1832 Asset Management L.P. now owns 368,400 shares of the company's stock valued at $3,949,000 after purchasing an additional 120,200 shares during the period. 24.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RSI has been the subject of a number of research analyst reports. Susquehanna reaffirmed a "positive" rating and issued a $19.00 price target (up previously from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. JPMorgan Chase & Co. began coverage on Rush Street Interactive in a report on Monday, June 23rd. They set a "neutral" rating and a $14.00 price target for the company. Wall Street Zen downgraded Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Zacks Research upgraded Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Finally, Jefferies Financial Group raised their target price on Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.89.

Rush Street Interactive Stock Down 0.1%

NYSE RSI traded down $0.03 during trading hours on Monday, reaching $22.31. The company's stock had a trading volume of 1,243,366 shares, compared to its average volume of 1,520,606. The firm's 50-day moving average price is $17.14 and its 200-day moving average price is $13.86. Rush Street Interactive, Inc. has a 1 year low of $8.80 and a 1 year high of $22.55. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 111.53 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%.The company had revenue of $269.22 million for the quarter, compared to analysts' expectations of $248.98 million. During the same period in the previous year, the firm earned $0.04 EPS. The firm's revenue was up 22.2% compared to the same quarter last year. Rush Street Interactive has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Insider Activity

In other news, CEO Richard Todd Schwartz sold 193,905 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $15.39, for a total transaction of $2,984,197.95. Following the transaction, the chief executive officer owned 1,017,471 shares of the company's stock, valued at approximately $15,658,878.69. The trade was a 16.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Judith Gold sold 100,000 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $19.61, for a total value of $1,961,000.00. Following the transaction, the director directly owned 111,629 shares in the company, valued at approximately $2,189,044.69. This represents a 47.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,721,090 shares of company stock valued at $42,842,298. 56.94% of the stock is currently owned by insiders.

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.