Rhumbline Advisers Grows Stock Position in Rush Street Interactive, Inc. $RSI

Rhumbline Advisers raised its position in Rush Street Interactive, Inc. (NYSE:RSI) by 4.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,193 shares of the company’s stock after buying an additional 4,767 shares during the quarter. Rhumbline Advisers’ holdings in Rush Street Interactive were worth $1,160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE raised its stake in Rush Street Interactive by 28.0% in the 4th quarter. Bank of America Corp DE now owns 563,769 shares of the company’s stock valued at $7,735,000 after acquiring an additional 123,305 shares during the period. Deutsche Bank AG increased its stake in shares of Rush Street Interactive by 233.6% in the fourth quarter. Deutsche Bank AG now owns 125,699 shares of the company’s stock worth $1,725,000 after purchasing an additional 88,017 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Rush Street Interactive in the fourth quarter valued at approximately $95,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Rush Street Interactive by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company’s stock valued at $594,000 after purchasing an additional 1,632 shares during the period. Finally, Man Group plc lifted its stake in shares of Rush Street Interactive by 217.4% during the 4th quarter. Man Group plc now owns 70,711 shares of the company’s stock valued at $970,000 after buying an additional 48,436 shares in the last quarter. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Stock Up 1.5%

Shares of RSI opened at $22.02 on Friday. The stock has a market capitalization of $5.03 billion, a P/E ratio of 110.10 and a beta of 1.90. Rush Street Interactive, Inc. has a twelve month low of $9.54 and a twelve month high of $22.55. The firm has a fifty day simple moving average of $19.11 and a two-hundred day simple moving average of $14.65.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $269.22 million during the quarter, compared to the consensus estimate of $248.98 million. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 earnings per share. Rush Street Interactive has set its FY 2025 guidance at EPS. Sell-side analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rush Street Interactive news, Director Judith Gold sold 100,000 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $19.61, for a total value of $1,961,000.00. Following the completion of the sale, the director owned 111,629 shares in the company, valued at approximately $2,189,044.69. This trade represents a 47.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 876,150 shares in the company, valued at $16,603,042.50. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,928,903 shares of company stock worth $34,066,543. 56.94% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RSI. Zacks Research upgraded shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 25th. Oppenheimer lifted their price target on Rush Street Interactive from $16.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Needham & Company LLC boosted their price objective on Rush Street Interactive from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Jefferies Financial Group increased their price objective on Rush Street Interactive from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. began coverage on Rush Street Interactive in a report on Monday, June 23rd. They set a “neutral” rating and a $14.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.33.

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.