Vanguard Group Inc. Has $90.69 Million Position 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. trimmed its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 1.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. grew its holdings in shares of Rush Street Interactive by 94.7% during the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock worth $27,000 after purchasing an additional 1,232 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Rush Street Interactive during the 4th quarter worth about $34,000. GAMMA Investing LLC grew its holdings in Rush Street Interactive by 1,687.6% during the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock worth $70,000 after acquiring an additional 6,143 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Rush Street Interactive in the 4th quarter valued at about $95,000. Finally, NewEdge Advisors LLC bought a new position in shares of Rush Street Interactive in the fourth quarter worth about $148,000. Institutional investors own 24.78% of the company's stock.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, Director Masi Niccolo De sold 446,094 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $18.35, for a total value of $8,185,824.90. Following the completion of the sale, the director directly owned 15,203 shares in the company, valued at $278,975.05. This represents a 96.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 193,905 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $15.39, for a total value of $2,984,197.95. Following the sale, the chief executive officer directly owned 1,017,471 shares in the company, valued at approximately $15,658,878.69. This represents a 16.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,816,090 shares of company stock valued at $44,026,948. Company insiders own 56.94% of the company's stock.

Rush Street Interactive Stock Up 0.7%

Rush Street Interactive stock traded up $0.15 during midday trading on Thursday, hitting $21.95. 140,155 shares of the stock were exchanged, compared to its average volume of 1,699,101. The stock has a market capitalization of $5.02 billion, a PE ratio of 109.76 and a beta of 1.90. The company has a fifty day simple moving average of $16.81 and a two-hundred day simple moving average of $13.78. Rush Street Interactive, Inc. has a 52 week low of $8.80 and a 52 week high of $22.15.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on RSI. Benchmark increased their price target on shares of Rush Street Interactive from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen lowered Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Oppenheimer boosted their target price on Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Zacks Research upgraded Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a report on Monday. Finally, Macquarie reiterated an "outperform" rating and issued a $16.00 price objective on shares of Rush Street Interactive in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold 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 target price of $17.89.

About Rush Street Interactive

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.