Farther Finance Advisors LLC Purchases New Holdings in Rush Street Interactive, Inc. $RSI

Farther Finance Advisors LLC acquired a new position in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 2,842 shares of the company’s stock, valued at approximately $42,000.

A number of other hedge funds have also made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of Rush Street Interactive by 5.4% in the first quarter. Arizona State Retirement System now owns 24,145 shares of the company’s stock worth $259,000 after acquiring an additional 1,232 shares during the last quarter. Pacer Advisors Inc. lifted 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 purchasing an additional 1,232 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Rush Street Interactive by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,163 shares of the company’s stock worth $484,000 after purchasing an additional 1,893 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Rush Street Interactive during the 1st quarter worth $33,000. Finally, Voya Investment Management LLC grew its holdings in shares of Rush Street Interactive by 9.0% during the first quarter. Voya Investment Management LLC now owns 45,003 shares of the company’s stock worth $482,000 after buying an additional 3,727 shares in the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They issued a “neutral” rating and a $14.00 price target on the stock. Zacks Research downgraded shares of Rush Street Interactive from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Benchmark raised their target price on shares of Rush Street Interactive from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Susquehanna restated 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. Finally, Needham & Company LLC increased their price target on Rush Street Interactive from $17.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.33.

Rush Street Interactive Price Performance

Shares of RSI opened at $18.69 on Tuesday. Rush Street Interactive, Inc. has a 1-year low of $9.54 and a 1-year high of $22.65. The stock has a market cap of $4.27 billion, a PE ratio of 93.45 and a beta of 1.87. The firm has a 50-day simple moving average of $20.45 and a two-hundred day simple moving average of $15.49.

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

Insider Activity at Rush Street Interactive

In other news, COO Mattias Stetz sold 30,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $20.10, for a total transaction of $603,000.00. Following the sale, the chief operating officer owned 224,806 shares of the company’s stock, valued at approximately $4,518,600.60. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kyle Sauers sold 15,038 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $22.34, for a total transaction of $335,948.92. Following the completion of the transaction, the chief financial officer directly owned 418,651 shares of the company’s stock, valued at approximately $9,352,663.34. The trade was a 3.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,283,942 shares of company stock valued at $24,878,995. 56.89% of the stock is owned by company 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.