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

Rush Street Interactive, Inc. (NYSE:RSI) shares hit a new 52-week high on Monday . The company traded as high as $11.67 and last traded at $11.62, with a volume of 2229627 shares. The stock had previously closed at $10.90.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RSI shares. Needham & Company LLC increased their target price on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Craig Hallum lifted their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their target price on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company lifted their price target on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Oppenheimer increased their price objective on Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.43.

Rush Street Interactive Stock Performance

The company has a 50 day moving average price of $10.55 and a 200-day moving average price of $9.61.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, insider Paul Wierbicki sold 35,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.23, for a total value of $393,050.00. Following the completion of the sale, the insider now directly owns 139,982 shares in the company, valued at $1,571,997.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Paul Wierbicki sold 35,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.23, for a total value of $393,050.00. Following the completion of the transaction, the insider now directly owns 139,982 shares in the company, valued at $1,571,997.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Einar Roosileht sold 150,000 shares of Rush Street Interactive stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total transaction of $1,363,500.00. Following the transaction, the insider now directly owns 809,260 shares of the company’s stock, valued at approximately $7,356,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System boosted its holdings in Rush Street Interactive by 17.2% in the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after acquiring an additional 1,020 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Rush Street Interactive by 13,627.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares during the last quarter. Quarry LP increased 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 purchasing an additional 1,200 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Rush Street Interactive in the second quarter worth approximately $98,000. Finally, CWM LLC lifted its stake in shares of Rush Street Interactive by 425.6% in the third quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after buying 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.