IFP Advisors Inc Buys 67,896 Shares of Rush Street Interactive, Inc. $RSI

IFP Advisors Inc raised its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 211.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,993 shares of the company’s stock after acquiring an additional 67,896 shares during the period. IFP Advisors Inc’s holdings in Rush Street Interactive were worth $1,491,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in shares of Rush Street Interactive by 72.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 542,376 shares of the company’s stock valued at $5,814,000 after acquiring an additional 228,187 shares in the last quarter. Calamos Advisors LLC raised its holdings in shares of Rush Street Interactive by 17.9% in the 1st quarter. Calamos Advisors LLC now owns 540,008 shares of the company’s stock valued at $5,789,000 after acquiring an additional 82,067 shares in the last quarter. Jump Financial LLC raised its holdings in shares of Rush Street Interactive by 41.5% in the 1st quarter. Jump Financial LLC now owns 300,400 shares of the company’s stock valued at $3,220,000 after acquiring an additional 88,155 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Rush Street Interactive by 1,687.6% in the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company’s stock valued at $70,000 after acquiring an additional 6,143 shares in the last quarter. Finally, Bryce Point Capital LLC purchased a new stake in shares of Rush Street Interactive in the 1st quarter valued at about $724,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Trading Down 2.3%

Shares of NYSE RSI opened at $18.39 on Friday. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 91.95 and a beta of 1.87. Rush Street Interactive, Inc. has a 1-year low of $9.54 and a 1-year high of $22.65. The stock’s 50-day moving average is $20.49 and its 200 day moving average is $15.66.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $269.22 million for the quarter, compared to analysts’ expectations of $248.98 million. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%.Rush Street Interactive’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm 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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RSI shares. Zacks Research cut Rush Street Interactive from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Oppenheimer raised their price target on Rush Street Interactive from $16.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. initiated coverage on Rush Street Interactive in a report on Monday, June 23rd. They issued a “neutral” rating and a $14.00 price target on the stock. Jefferies Financial Group raised their price objective on Rush Street Interactive from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, July 3rd. Finally, Benchmark raised their price objective on Rush Street Interactive from $20.00 to $24.00 and gave the company a “buy” rating in a report on Monday, September 8th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.33.

Insider Buying and Selling

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 136,738 shares of Rush Street Interactive stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $20.88, for a total value of $2,855,089.44. Following the transaction, the chief executive officer directly owned 880,733 shares of the company’s stock, valued at $18,389,705.04. The trade was a 13.44% 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 Rush Street Interactive 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 transaction, the director directly owned 111,629 shares in the company, valued at $2,189,044.69. This trade represents a 47.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,477,847 shares of company stock valued at $28,465,288 over the last quarter. Company insiders own 56.94% of the company’s stock.

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.