Rush Street Interactive (NYSE:RSI) Sets New 1-Year High – Here’s What Happened

Rush Street Interactive, Inc. (NYSE:RSI)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $15.98 and last traded at $15.47, with a volume of 159967 shares traded. The stock had previously closed at $15.36.

Analyst Ratings Changes

Several brokerages have commented on RSI. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Jefferies Financial Group raised their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Needham & Company LLC boosted their target price on shares of Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Craig Hallum upped their price target on shares of Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.00.

Rush Street Interactive Stock Down 1.9 %

The business’s 50 day moving average price is $13.87 and its 200-day moving average price is $11.42.

Insider Transactions at Rush Street Interactive

In related news, insider Paul Wierbicki sold 35,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.23, for a total transaction of $393,050.00. Following the transaction, the insider now owns 139,982 shares in the company, valued at $1,571,997.86. This represents a 20.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kyle Sauers sold 25,934 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.30, for a total transaction of $318,988.20. Following the sale, the chief financial officer now directly owns 338,614 shares in the company, valued at approximately $4,164,952.20. This represents a 7.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 884,287 shares of company stock worth $11,632,978. Insiders own 56.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. R Squared Ltd bought a new position in Rush Street Interactive in the 4th quarter valued at $28,000. Heck Capital Advisors LLC bought a new position in Rush Street Interactive in the fourth quarter valued at about $34,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Rush Street Interactive in the third quarter worth about $44,000. Point72 DIFC Ltd bought a new stake in Rush Street Interactive during the 3rd quarter worth about $70,000. Finally, New York State Teachers Retirement System lifted 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 valued at $75,000 after purchasing an additional 1,020 shares during the period. 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.