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

Rush Street Interactive, Inc. (NYSE:RSI)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $14.60 and last traded at $14.47, with a volume of 288428 shares trading hands. The stock had previously closed at $14.51.

Wall Street Analysts Forecast Growth

RSI has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Jefferies Financial Group lifted their target price on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Craig Hallum lifted their target price 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. Needham & Company LLC lifted 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. Finally, Oppenheimer boosted their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $12.43.

Rush Street Interactive Stock Down 2.1 %

The company has a market cap of $3.21 billion, a PE ratio of -710.50 and a beta of 1.78. The firm’s fifty day simple moving average is $11.20 and its 200-day simple moving average is $9.98.

Insider Buying and Selling at Rush Street Interactive

In other news, COO Mattias Stetz sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $11.02, for a total value of $220,400.00. Following the completion of the transaction, the chief operating officer now owns 580,484 shares of the company’s stock, valued at $6,396,933.68. The trade was a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kyle Sauers sold 25,934 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.30, for a total transaction of $318,988.20. Following the completion of the transaction, the chief financial officer now directly owns 338,614 shares of the company’s stock, 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. Insiders have sold 287,339 shares of company stock valued at $3,250,471 over the last quarter. Corporate insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Rush Street Interactive by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock valued at $35,683,000 after buying an additional 85,736 shares during the last quarter. Geode Capital Management LLC increased its position in Rush Street Interactive by 5.6% during the third quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock worth $18,843,000 after purchasing an additional 92,314 shares during the last quarter. State Street Corp increased its position in Rush Street Interactive by 3.6% during the third quarter. State Street Corp now owns 1,612,892 shares of the company’s stock worth $17,500,000 after purchasing an additional 55,697 shares during the last quarter. Renaissance Technologies LLC increased its position in Rush Street Interactive by 47.3% during 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, Assenagon Asset Management S.A. increased its position in Rush Street Interactive by 157.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock worth $13,666,000 after purchasing an additional 872,367 shares during the last quarter. Institutional investors and hedge funds 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.