XTX Topco Ltd Raises Stock Holdings in 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 grew its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI - Free Report) by 100.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,817 shares of the company's stock after purchasing an additional 27,499 shares during the period. XTX Topco Ltd's holdings in Rush Street Interactive were worth $588,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in Rush Street Interactive by 94.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock valued at $27,000 after buying an additional 1,232 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Rush Street Interactive during the 4th quarter worth approximately $34,000. GAMMA Investing LLC increased its stake in Rush Street Interactive by 1,687.6% in the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after acquiring an additional 6,143 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Rush Street Interactive during the fourth quarter valued at approximately $95,000. Finally, NewEdge Advisors LLC bought a new stake in Rush Street Interactive during the fourth quarter worth $148,000. 24.78% of the stock is owned by institutional investors.

Rush Street Interactive Stock Down 2.9%

Shares of RSI stock traded down $0.56 during trading hours on Friday, hitting $18.57. 1,465,694 shares of the company's stock traded hands, compared to its average volume of 1,987,152. The stock has a market cap of $4.25 billion, a PE ratio of 92.85 and a beta of 1.90. The stock's 50 day simple moving average is $15.08 and its 200 day simple moving average is $13.28. Rush Street Interactive, Inc. has a 12 month low of $8.76 and a 12 month high of $20.32.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $269.22 million during the quarter, compared to analyst estimates of $248.98 million. During the same period last year, the company earned $0.04 EPS. Rush Street Interactive's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities research analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Judith Gold sold 100,000 shares of Rush Street Interactive stock in a transaction on Monday, August 4th. The shares were sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the completion of the transaction, the director owned 111,629 shares of the company's stock, valued at $2,189,044.69. This trade represents a 47.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Todd Schwartz sold 193,905 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 1,017,471 shares in the company, valued at $15,658,878.69. The trade was a 16.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,622,185 shares of company stock valued at $40,411,742 over the last ninety days. 56.94% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RSI has been the topic of several recent analyst reports. Wall Street Zen upgraded Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. Macquarie reiterated an "outperform" rating and issued a $16.00 target price on shares of Rush Street Interactive in a research report on Friday, May 2nd. JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 target price for the company. Needham & Company LLC raised their price target on shares of Rush Street Interactive from $17.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Oppenheimer upped their price objective on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Rush Street Interactive currently has a consensus rating of "Moderate Buy" and an average target price of $17.89.

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.