Wellington Management Group LLP Takes Position in Rush Street Interactive, Inc. $RSI

Key Points

• Wellington Management initiated a position in Rush Street Interactive, purchasing 137,254 shares valued at approximately $4.1 million. Institutional investors collectively own 24.78% of the company.
• Rush Street Interactive reported quarterly revenue of $393.78 million, up 46.3% year over year and ahead of analyst expectations, while earnings per share matched estimates at $0.15.
• Wall Street remains generally bullish, with a consensus “Moderate Buy” rating and a $35.22 average price target, although insiders sold roughly 614,000 shares worth $17.4 million over the past 90 days.

Wellington Management Group LLP bought a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 137,254 shares of the company's stock, valued at approximately $4,082,000. Wellington Management Group LLP owned approximately 0.06% of Rush Street Interactive as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of RSI. BlackRock Inc. purchased a new stake in Rush Street Interactive in the 2nd quarter worth $448,435,000. Alliancebernstein L.P. lifted its position in shares of Rush Street Interactive by 1.3% in the second quarter. Alliancebernstein L.P. now owns 6,214,230 shares of the company's stock valued at $92,592,000 after acquiring an additional 80,471 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Rush Street Interactive by 763.6% in the third quarter. Ameriprise Financial Inc. now owns 2,822,991 shares of the company's stock worth $57,815,000 after acquiring an additional 2,496,109 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Rush Street Interactive by 84.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company's stock worth $60,121,000 after acquiring an additional 1,267,622 shares during the period. Finally, William Blair Investment Management LLC grew its position in shares of Rush Street Interactive by 17.3% during the fourth quarter. William Blair Investment Management LLC now owns 2,557,778 shares of the company's stock worth $49,698,000 after purchasing an additional 378,002 shares in the last quarter. Institutional investors own 24.78% of the company's stock.

Rush Street Interactive Trading Down 0.8%

Shares of Rush Street Interactive stock opened at $26.81 on Thursday. The stock has a 50 day moving average of $28.57 and a 200 day moving average of $25.99. Rush Street Interactive, Inc. has a 12 month low of $15.51 and a 12 month high of $34.53. The firm has a market cap of $6.21 billion, a PE ratio of 92.45 and a beta of 1.51.

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

Insider Activity at Rush Street Interactive

In related news, COO Mattias Stetz sold 20,000 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $31.22, for a total value of $624,400.00. Following the sale, the chief operating officer owned 197,874 shares in the company, valued at approximately $6,177,626.28. The trade was a 9.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,112 shares of the company's stock in a transaction on Monday, August 3rd. The shares were 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 in the company, valued at approximately $11,803,649.16. The trade was a 20.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 614,000 shares of company stock valued at $17,394,492. 52.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Benchmark lifted their target price on Rush Street Interactive from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Needham & Company LLC increased their price objective on shares of Rush Street Interactive from $33.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Susquehanna lifted their price objective on shares of Rush Street Interactive from $30.00 to $36.00 and gave the company a "positive" rating in a research report on Wednesday, July 29th. Wells Fargo & Company boosted their target price on shares of Rush Street Interactive from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Rush Street Interactive from $26.00 to $30.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.22.

About Rush Street Interactive

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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