XTX Topco Ltd Buys 27,499 Shares of Rush Street Interactive, Inc. (NYSE:RSI)

Key Points

• XTX Topco Ltd has increased its stake in Rush Street Interactive, Inc. by 100.7% during the first quarter, owning a total of 54,817 shares valued at approximately $588,000.
• Several research analysts have given Rush Street Interactive favorable ratings, with price targets ranging from $14.00 to $21.00, indicating a general positive sentiment towards the stock.
• Insider trading activity has been significant, with director Judith Gold selling 100,000 shares for about $1.96 million, reducing her ownership by 47.25%.

XTX Topco Ltd lifted its position in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 100.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,817 shares of the company's stock after purchasing an additional 27,499 shares during the quarter. XTX Topco Ltd's holdings in Rush Street Interactive were worth $588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. lifted its position in Rush Street Interactive by 94.7% in 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 period. Heck Capital Advisors LLC acquired a new position in shares of Rush Street Interactive in the 4th quarter valued at $34,000. GAMMA Investing LLC lifted its holdings in shares of 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 period. Lazard Asset Management LLC acquired a new stake in shares of Rush Street Interactive during the 4th quarter valued at about $95,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Rush Street Interactive during the 4th quarter valued at about $148,000. 24.78% of the stock is currently owned by institutional investors.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, Director Judith Gold sold 100,000 shares of the business's stock in a transaction dated 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 sale, the director directly owned 111,629 shares of the company's stock, valued at approximately $2,189,044.69. The trade was a 47.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $19.45, for a total transaction of $680,750.00. Following the completion of the transaction, the insider directly owned 91,705 shares in the company, valued at $1,783,662.25. This trade represents a 27.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,729,670 shares of company stock valued at $41,686,594 over the last quarter. 56.94% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RSI has been the subject of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Rush Street Interactive in a research report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price target for the company. Jefferies Financial Group upped their price objective on Rush Street Interactive from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Macquarie reissued an "outperform" rating and issued a $16.00 target price on shares of Rush Street Interactive in a report on Friday, May 2nd. Oppenheimer boosted their price target 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. Finally, Susquehanna reiterated a "positive" rating and issued a $19.00 price target (up from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.89.

Rush Street Interactive Stock Performance

RSI traded up $0.42 during midday trading on Wednesday, hitting $19.58. The company had a trading volume of 1,224,132 shares, compared to its average volume of 1,962,813. Rush Street Interactive, Inc. has a twelve month low of $8.76 and a twelve month high of $20.32. The company has a market capitalization of $4.48 billion, a PE ratio of 97.88 and a beta of 1.90. The firm's 50-day simple moving average is $14.70 and its 200-day simple moving average is $13.18.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $269.22 million during the quarter, compared to analysts' expectations of $248.98 million. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. Rush Street Interactive's revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 EPS. As a group, sell-side analysts anticipate that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

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.