Westover Capital Advisors LLC Raises Holdings in Rush Street Interactive, Inc. $RSI

Westover Capital Advisors LLC grew its holdings in Rush Street Interactive, Inc. (NYSE:RSI) by 12.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,452 shares of the company’s stock after buying an additional 6,224 shares during the period. Westover Capital Advisors LLC’s holdings in Rush Street Interactive were worth $856,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of Rush Street Interactive by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 217,656 shares of the company’s stock worth $2,333,000 after buying an additional 4,336 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Rush Street Interactive by 45.7% in the first quarter. Cerity Partners LLC now owns 21,900 shares of the company’s stock valued at $235,000 after acquiring an additional 6,869 shares in the last quarter. Arizona State Retirement System increased its holdings in Rush Street Interactive by 5.4% during the 1st quarter. Arizona State Retirement System now owns 24,145 shares of the company’s stock worth $259,000 after purchasing an additional 1,232 shares during the period. New York State Common Retirement Fund increased its holdings in Rush Street Interactive by 204.2% during the 1st quarter. New York State Common Retirement Fund now owns 540,382 shares of the company’s stock worth $5,793,000 after purchasing an additional 362,755 shares during the period. Finally, CWM LLC raised its position in Rush Street Interactive by 37.1% in the 1st quarter. CWM LLC now owns 19,582 shares of the company’s stock valued at $210,000 after purchasing an additional 5,301 shares in the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

Rush Street Interactive Stock Down 2.2%

Shares of Rush Street Interactive stock opened at $16.86 on Tuesday. The firm has a market capitalization of $3.87 billion, a P/E ratio of 67.44 and a beta of 1.86. Rush Street Interactive, Inc. has a 52 week low of $9.54 and a 52 week high of $22.65. The firm’s 50 day moving average is $19.28 and its two-hundred day moving average is $16.94.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RSI shares. Needham & Company LLC boosted their price objective on Rush Street Interactive from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Benchmark lifted their price target 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. Zacks Research upgraded shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Wall Street Zen raised shares of Rush Street Interactive from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Rush Street Interactive from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. One 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.75.

Insiders Place Their Bets

In other news, COO Mattias Stetz sold 30,000 shares of Rush Street Interactive stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $17.09, for a total transaction of $512,700.00. Following the sale, the chief operating officer owned 194,806 shares in the company, valued at approximately $3,329,234.54. The trade was a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Todd Schwartz sold 136,738 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $20.88, for a total value of $2,855,089.44. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 826,753 shares of company stock valued at $16,018,954. 56.89% of the stock is currently owned by insiders.

Rush Street Interactive 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.