Rush Street Interactive (NYSE:RSI) Reaches New 12-Month High – Should You Buy?

Shares of Rush Street Interactive, Inc. (NYSE:RSI) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.01 and last traded at $14.98, with a volume of 831695 shares trading hands. The stock had previously closed at $13.96.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Jefferies Financial Group upped their price objective on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC lifted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Craig Hallum increased their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.67.

Rush Street Interactive Trading Down 1.6 %

The company has a 50-day moving average of $13.45 and a 200-day moving average of $11.19. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -745.25 and a beta of 1.88.

Insider Transactions at Rush Street Interactive

In related news, insider Einar Roosileht sold 48,968 shares of Rush Street Interactive stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total value of $687,510.72. Following the completion of the sale, the insider now directly owns 830,292 shares in the company, valued at $11,657,299.68. This trade represents a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard Todd Schwartz sold 149,605 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $14.61, for a total transaction of $2,185,729.05. Following the transaction, the chief executive officer now owns 2,151,648 shares in the company, valued at $31,435,577.28. The trade was a 6.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 884,287 shares of company stock worth $11,632,978. Insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RSI. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Rush Street Interactive in the third quarter worth about $44,000. Point72 DIFC Ltd purchased a new position in Rush Street Interactive during the 3rd quarter worth approximately $70,000. New York State Teachers Retirement System raised its position in Rush Street Interactive by 17.2% during the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after buying an additional 1,020 shares during the last quarter. Quarry LP lifted its stake in Rush Street Interactive by 15.9% during the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after acquiring an additional 1,200 shares during the period. Finally, CWM LLC boosted its holdings in shares of Rush Street Interactive by 425.6% in the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after acquiring an additional 7,457 shares during the last quarter. Hedge funds and other institutional investors own 24.78% 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.