Rush Street Interactive (NYSE:RSI) Hits New 52-Week High – Should You Buy?

Rush Street Interactive, Inc. (NYSE:RSI)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $14.96 and last traded at $14.76, with a volume of 1458193 shares traded. The stock had previously closed at $14.20.

Wall Street Analyst Weigh In

RSI has been the subject of several analyst reports. Needham & Company LLC upped their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Craig Hallum raised their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research report on Monday. Finally, Jefferies Financial Group increased their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rush Street Interactive currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.43.

Rush Street Interactive Stock Up 4.1 %

The company’s fifty day simple moving average is $12.91 and its 200 day simple moving average is $10.95. The firm has a market capitalization of $3.34 billion, a PE ratio of -739.00 and a beta of 1.88.

Insider Activity

In related news, insider Einar Roosileht sold 48,968 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total transaction of $687,510.72. Following the completion of the transaction, the insider now owns 830,292 shares of the company’s stock, valued at $11,657,299.68. This trade represents a 5.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mattias Stetz sold 25,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $14.50, for a total value of $362,500.00. Following the completion of the sale, the chief operating officer now directly owns 550,484 shares in the company, valued at $7,982,018. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 542,106 shares of company stock worth $6,757,094 in the last quarter. 56.89% of the stock is owned by company insiders.

Institutional Trading of Rush Street Interactive

Institutional investors and hedge funds have recently bought and sold shares of the company. Driehaus Capital Management LLC bought a new stake in Rush Street Interactive in the 2nd quarter worth about $10,605,000. Marshall Wace LLP raised its holdings in shares of Rush Street Interactive by 185.5% during the second quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock valued at $9,416,000 after purchasing an additional 637,883 shares during the last quarter. Millennium Management LLC lifted its position in Rush Street Interactive by 378.4% during the second quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock valued at $5,951,000 after purchasing an additional 490,831 shares during the period. Renaissance Technologies LLC boosted its holdings in Rush Street Interactive by 47.3% in the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock worth $14,425,000 after purchasing an additional 482,872 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in Rush Street Interactive in the 3rd quarter worth approximately $4,178,000. 24.78% of the stock is currently owned by institutional investors.

Rush Street Interactive Company 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.