Ieq Capital LLC Cuts Stake in Rush Street Interactive, Inc. $RSI

Ieq Capital LLC reduced its holdings in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,848 shares of the company’s stock after selling 3,057 shares during the period. Ieq Capital LLC’s holdings in Rush Street Interactive were worth $449,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased 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 worth $27,000 after buying an additional 1,232 shares during the period. Summit Securities Group LLC purchased a new stake in Rush Street Interactive during the 1st quarter worth approximately $33,000. Heck Capital Advisors LLC purchased a new stake in Rush Street Interactive during the 4th quarter worth approximately $34,000. GAMMA Investing LLC grew its holdings in Rush Street Interactive by 1,687.6% during the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company’s stock worth $70,000 after acquiring an additional 6,143 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Rush Street Interactive during the 4th quarter worth approximately $95,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RSI has been the subject of several analyst reports. Benchmark boosted their price target on shares of Rush Street Interactive from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Oppenheimer boosted their price target on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Wall Street Zen cut shares of Rush Street Interactive from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 16th. JPMorgan Chase & Co. initiated coverage on shares of Rush Street Interactive in a report on Monday, June 23rd. They set a “neutral” rating and a $14.00 price target for the company. Finally, Jefferies Financial Group boosted their price target on shares of Rush Street Interactive from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, July 3rd. One 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. Based on data from MarketBeat, Rush Street Interactive currently has an average rating of “Moderate Buy” and a consensus price target of $17.89.

Rush Street Interactive Trading Up 1.0%

Shares of Rush Street Interactive stock opened at $21.49 on Friday. The company has a fifty day simple moving average of $17.72 and a 200-day simple moving average of $14.04. Rush Street Interactive, Inc. has a 12-month low of $8.93 and a 12-month high of $22.55. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 107.43 and a beta of 1.90.

Rush Street Interactive (NYSE:RSI) last issued its 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. The business had revenue of $269.22 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 EPS. Rush Street Interactive has set its FY 2025 guidance at EPS. On average, analysts forecast that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Richard Todd Schwartz sold 100,000 shares of the stock in a transaction on Monday, August 11th. The shares were 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 $15,334,798.92. This represents a 10.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Judith Gold sold 100,000 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the sale, the director owned 111,629 shares of the company’s stock, valued at approximately $2,189,044.69. This represents a 47.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,821,090 shares of company stock worth $44,988,698 over the last 90 days. 56.94% of the stock is owned by corporate insiders.

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.