Institutional investors are showing a strong interest in Rush Street Interactive, Inc. (NYSE:RSI), with recent filings indicating significant investments and stock trading activity. Blueshift Asset Management LLC, for instance, disclosed an acquisition of 30,875 shares in the company during the fourth quarter, valued at approximately $424,000 according to its latest Form 13F filing with the Securities and Exchange Commission (SEC).
Moreover, several other institutional investors have been increasing their stakes in Rush Street Interactive. Geode Capital Management LLC, for instance, lifted its position by 5.6% in the third quarter, now owning 1,736,259 shares worth $18,843,000 after purchasing an additional 92,314 shares. State Street Corp also increased its position by 3.6%, bringing their total holdings to 1,612,892 shares valued at $17,500,000 after acquiring an additional 55,697 shares in the same period.
Some investment firms are making substantial new investments as well. William Blair Investment Management LLC entered a new stake in the fourth quarter valued at $21,635,000, while Connor Clark & Lunn Investment Management Ltd. grew its holdings by 18.8% during the same period, now owning 975,351 shares worth $13,382,000 after acquiring an additional 154,396 shares. Jupiter Asset Management Ltd. also showed a significant increase by 38.0%, acquiring an additional 243,562 shares to reach 884,913 shares valued at $12,141,000.
As for the institutional landscape, 24.78% of Rush Street Interactive’s stock is currently owned by institutional investors and hedge funds.
Moving to recent trading activity, shares of NYSE:RSI rose 0.1%, trading up $0.02 during midday trading last Friday, March 21, 2025, hitting $10.95. In total, 1,815,963 shares were exchanged, compared to an average trading volume of 1,836,276 shares. The company currently has a fifty-day simple moving average of $13.38 and a two-hundred day simple moving average of $12.44. Over the past year, the stock has reached a low of $5.71 and a high of $16.78, reflecting its volatility. Overall, Rush Street Interactive is valued at around $2.50 billion, holds a price-to-earnings ratio of -547.25, and has a beta of 1.92.
Analyst interest in Rush Street Interactive is also noteworthy. Several analysts recently issued reports that shifted their price objectives. In a notable move, Wells Fargo & Company increased their price objective from $14.00 to $15.00 and maintained an "overweight" rating on the company. Similarly, Needham & Company LLC restated a "buy" rating and assigned a price objective of $17.00. On February 28th, 2025, Susquehanna upgraded the firm's shares from a "hold" to a "strong-buy" rating based on their assessment of the company’s position.
JMP Securities also weighed in by restating a "market perform" rating on the company's shares on January 6th, underscoring varying analyst sentiment. Meanwhile, Jefferies Financial Group has set its price objective at $17.00 following its $16.00 revision earlier in January. Analysts are generally optimistic, with one indicating a hold rating, seven advising a buy, and one recommending a strong buy. Currently, the consensus rating stands at "Buy" with an average price target of $15.50 according to MarketBeat.
Adding another layer of complexity to the current transactions are insider sales. CFO Kyle Sauers sold 28,381 shares on March 18, 2025, at an average price of $10.70, resulting in a total transaction value of approximately $303,676.70. Following this transaction, Sauers owned 470,323 shares, valued at $5,032,456.10, marking a 5.69% decrease in his holdings. Notably, he had made a larger sale in January, offloading 146,015 shares at an average price of $13.91 for $2,031,068.65.
Another insider, Einar Roosileht, sold 48,968 shares of the company’s stock back on January 2nd at an average price of $14.04, totaling $687,510.72. After this transaction, Roosileht's direct holdings dropped by 5.57% to 830,292 shares valued subsequently at $11,657,299.68.
Over the last three months, insiders have sold a considerable total of 988,545 shares, valued at $13,174,489, while corporate insiders own up to 56.89% of Rush Street Interactive’s stock. This emergence of insider selling, even amid increasing institutional interest, has raised eyebrows as analysts and investors weigh the implications on long-term stock performance.
As Rush Street Interactive continues to operate in the competitive online casino and sports betting market across the United States, Canada, Mexico, and further into Latin America, the growing interest from institutional investors coupled with a wave of recent analyst upgrades suggests potential for future growth.
