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.

Analyst Ratings Changes

Several research firms recently commented on RSI. Jefferies Financial Group raised their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC raised their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Craig Hallum boosted their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.67.

Rush Street Interactive Stock Down 1.6 %

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

Insider Buying and Selling

In other news, CEO Richard Todd Schwartz sold 103,905 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $11.02, for a total value of $1,145,033.10. Following the transaction, the chief executive officer now owns 1,703,578 shares in the company, valued at $18,773,429.56. This trade represents a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Einar Roosileht sold 48,968 shares of Rush Street Interactive stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 884,287 shares of company stock valued at $11,632,978. 56.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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 stake in shares of Rush Street Interactive during the third quarter worth $44,000. Point72 DIFC Ltd acquired a new position in Rush Street Interactive during the third quarter worth about $70,000. New York State Teachers Retirement System grew its stake 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 valued at $75,000 after acquiring an additional 1,020 shares in the last quarter. Quarry LP raised its holdings in Rush Street Interactive by 15.9% in 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 last quarter. Finally, CWM LLC lifted its stake in Rush Street Interactive by 425.6% in the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after purchasing an additional 7,457 shares in 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.