Pallas Capital Advisors LLC Acquires New Shares in Rush Street Interactive, Inc. $RSI

Pallas Capital Advisors LLC purchased a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 13,946 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in shares of 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 purchasing an additional 1,232 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Rush Street Interactive during the 1st quarter valued at $33,000. Heck Capital Advisors LLC purchased a new position in shares of Rush Street Interactive during the 4th quarter valued at $34,000. GAMMA Investing LLC grew its position 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 valued at $70,000 after purchasing an additional 6,143 shares in the last quarter. Finally, Highland Capital Management LLC purchased a new position in shares of Rush Street Interactive during the 1st quarter valued at $169,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on RSI. Oppenheimer boosted their price target on shares of Rush Street Interactive from $16.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Jefferies Financial Group boosted their price target on shares of Rush Street Interactive from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, July 3rd. Susquehanna reiterated a “positive” rating and issued a $19.00 target price (up from $15.00) on shares of Rush Street Interactive in a research report on Wednesday, July 30th. JPMorgan Chase & Co. began coverage on shares of Rush Street Interactive in a research report on Monday, June 23rd. They issued a “neutral” rating and a $14.00 target price for the company. Finally, Zacks Research upgraded shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Rush Street Interactive has an average rating of “Moderate Buy” and a consensus target price of $18.33.

Rush Street Interactive Stock Performance

Shares of NYSE:RSI opened at $22.51 on Tuesday. Rush Street Interactive, Inc. has a 52-week low of $9.54 and a 52-week high of $22.65. The firm has a fifty day moving average of $19.26 and a 200 day moving average of $14.78. The firm has a market capitalization of $5.14 billion, a PE ratio of 112.55 and a beta of 1.90.

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

Insider Buying and Selling at Rush Street Interactive

In other news, Director Judith Gold sold 100,000 shares of the company’s stock in a transaction dated 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 directly owned 111,629 shares of the company’s stock, valued at approximately $2,189,044.69. This represents a 47.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Mattias Stetz sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $21.45, for a total transaction of $643,500.00. Following the transaction, the chief operating officer directly owned 261,051 shares of the company’s stock, valued at approximately $5,599,543.95. This trade represents a 10.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,928,903 shares of company stock valued at $34,066,543. 56.89% of the stock is currently owned by insiders.

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.