Jupiter Asset Management Ltd. Sells 58,820 Shares of Rush Street Interactive, Inc. $RSI

Jupiter Asset Management Ltd. decreased its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 4.2% in the second quarter, Holdings Channel reports. The fund owned 1,337,048 shares of the company’s stock after selling 58,820 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Rush Street Interactive were worth $19,922,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings 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 purchasing an additional 1,232 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Rush Street Interactive in the first quarter worth about $33,000. Farther Finance Advisors LLC purchased a new position in shares of Rush Street Interactive during the second quarter worth approximately $42,000. AlphaQuest LLC raised its position in Rush Street Interactive by 431.3% during the 2nd quarter. AlphaQuest LLC now owns 7,395 shares of the company’s stock valued at $110,000 after purchasing an additional 6,003 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Rush Street Interactive by 11.1% in the second quarter. Teacher Retirement System of Texas now owns 13,615 shares of the company’s stock valued at $203,000 after acquiring an additional 1,358 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RSI. Susquehanna reiterated a “positive” rating and issued a $19.00 price target (up from $15.00) on shares of Rush Street Interactive in a report on Wednesday, July 30th. Jefferies Financial Group lifted their price objective on shares of Rush Street Interactive from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Zacks Research raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “hold (c)” rating on shares of Rush Street Interactive in a research note on Wednesday, October 8th. Finally, Benchmark boosted their price target on Rush Street Interactive from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.75.

Rush Street Interactive Price Performance

RSI stock opened at $17.33 on Thursday. Rush Street Interactive, Inc. has a 1 year low of $9.54 and a 1 year high of $22.65. The firm has a market capitalization of $3.98 billion, a PE ratio of 69.32 and a beta of 1.86. The business has a 50 day simple moving average of $19.53 and a 200-day simple moving average of $16.79.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $277.91 million during the quarter, compared to analysts’ expectations of $264.60 million. Rush Street Interactive had a net margin of 2.83% and a return on equity of 17.11%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS. Rush Street Interactive has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Rush Street Interactive, Inc. will post 0.04 EPS for the current year.

Insider Buying and Selling

In other news, CEO Richard Todd Schwartz sold 72,446 shares of Rush Street Interactive stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $17.41, for a total value of $1,261,284.86. Following the completion of the transaction, the chief executive officer owned 380,242 shares in the company, valued at approximately $6,620,013.22. This trade represents a 16.00% decrease in their position. The sale 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 company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $19.96, for a total value of $1,397,200.00. Following the transaction, the insider directly owned 876,150 shares of the company’s stock, valued at approximately $17,487,954. This represents a 7.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 826,753 shares of company stock worth $16,018,954 over the last ninety days. Insiders own 56.94% of the company’s stock.

Rush Street Interactive Company 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.