Rush Street Interactive, Inc. $RSI Stock Holdings Trimmed by Deutsche Bank AG

Deutsche Bank AG lowered its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 5.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,423 shares of the company’s stock after selling 6,276 shares during the period. Deutsche Bank AG owned approximately 0.05% of Rush Street Interactive worth $1,280,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. 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. XTX Topco Ltd raised its stake in Rush Street Interactive by 100.7% during the 1st quarter. XTX Topco Ltd now owns 54,817 shares of the company’s stock valued at $588,000 after acquiring an additional 27,499 shares in the last quarter. Bryce Point Capital LLC bought a new stake in Rush Street Interactive during the 1st quarter valued at $724,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Rush Street Interactive by 19.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,935 shares of the company’s stock valued at $267,000 after acquiring an additional 4,133 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Rush Street Interactive by 94.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock valued at $27,000 after acquiring an additional 1,232 shares in the last quarter. Institutional investors own 24.78% of the company’s stock.

Insider Activity at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 100,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $18.62, for a total transaction of $1,862,000.00. Following the completion of the sale, the chief executive officer owned 823,566 shares in the company, valued at approximately $15,334,798.92. This represents a 10.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Einar Roosileht sold 70,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $18.95, for a total value of $1,326,500.00. Following the sale, the insider owned 876,150 shares of the company’s stock, valued at $16,603,042.50. This trade represents a 7.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,816,090 shares of company stock worth $44,026,948. 56.94% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RSI has been the topic of several recent analyst reports. 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. Jefferies Financial Group increased their price target 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 reaffirmed an “outperform” rating and set a $16.00 price target on shares of Rush Street Interactive in a research note on Friday, May 2nd. Susquehanna reaffirmed a “positive” rating and set a $19.00 price target (up from $15.00) on shares of Rush Street Interactive in a research note on Wednesday, July 30th. Finally, 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 price target for the company. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.89.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI opened at $20.9320 on Friday. Rush Street Interactive, Inc. has a one year low of $8.76 and a one year high of $21.09. The stock has a fifty day moving average of $16.36 and a 200-day moving average of $13.63. The company has a market capitalization of $4.78 billion, a PE ratio of 104.66 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $269.22 million during the quarter, compared to the consensus estimate of $248.98 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The company’s quarterly revenue 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, research analysts forecast that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

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.