Vanguard Group Inc. Has $90.69 Million Stock Holdings in Rush Street Interactive, Inc. $RSI

Key Points

• Vanguard Group Inc. has decreased its stake in Rush Street Interactive by 1.6%, owning approximately $90.69 million worth of shares after selling 136,793 in the first quarter.
• Analysts have increased their price targets for Rush Street Interactive's stock, with Needham & Company setting a new price objective at $21.00, signifying a strong buy sentiment.
• Insider trading activity has been notable, with significant stock sales reported, decreasing insider ownership to 56.94% of the company's total shares.

Vanguard Group Inc. decreased its stake in Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,459,641 shares of the company's stock after selling 136,793 shares during the period. Vanguard Group Inc. owned 3.71% of Rush Street Interactive worth $90,687,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in RSI. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 purchasing an additional 2,004,059 shares during the last quarter. Nicholas Investment Partners LP bought a new stake in Rush Street Interactive during the 4th quarter valued at $14,970,000. Millennium Management LLC raised its stake in Rush Street Interactive by 267.0% during the 4th quarter. Millennium Management LLC now owns 1,337,554 shares of the company's stock valued at $18,351,000 after acquiring an additional 973,139 shares in the last quarter. Driehaus Capital Management LLC raised its stake in Rush Street Interactive by 56.6% during the 4th quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company's stock valued at $30,191,000 after acquiring an additional 795,719 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its stake in Rush Street Interactive by 57.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,395,868 shares of the company's stock valued at $14,964,000 after acquiring an additional 510,955 shares in the last quarter. Institutional investors own 24.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RSI. Benchmark lifted their target price on Rush Street Interactive from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Oppenheimer lifted their target price on Rush Street Interactive from $16.00 to $21.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. began 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. Macquarie reaffirmed an "outperform" rating and set a $16.00 target price on shares of Rush Street Interactive in a research note on Friday, May 2nd. Finally, Wall Street Zen downgraded Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $17.89.

Rush Street Interactive Price Performance

Shares of Rush Street Interactive stock traded up $0.51 during trading on Thursday, hitting $22.31. The stock had a trading volume of 1,693,287 shares, compared to its average volume of 2,167,170. The firm has a market cap of $5.10 billion, a P/E ratio of 111.53 and a beta of 1.90. The business has a fifty day moving average of $16.98 and a two-hundred day moving average of $13.84. Rush Street Interactive, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $22.41.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $269.22 million during the quarter, compared to analyst estimates 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 was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share. Rush Street Interactive has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Insider Activity at Rush Street Interactive

In other news, insider Einar Roosileht sold 70,000 shares of the business's 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 sale, the insider directly owned 876,150 shares of the company's stock, valued at $16,603,042.50. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Judith Gold sold 100,000 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $19.61, for a total value of $1,961,000.00. Following the sale, the director directly owned 111,629 shares in the company, valued at $2,189,044.69. This trade represents a 47.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,816,090 shares of company stock valued at $44,026,948 over the last ninety days. Company insiders own 56.94% of the company's stock.

Rush Street Interactive 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.