Rush Street Interactive (NYSE:RSI) Hits New 1-Year High – Should You Buy?

Shares of Rush Street Interactive, Inc. (NYSE:RSI) reached a new 52-week high during trading on Friday . The company traded as high as $16.08 and last traded at $16.13, with a volume of 64745 shares. The stock had previously closed at $15.73.

Wall Street Analysts Forecast Growth

RSI has been the subject of a number of research reports. Craig Hallum increased their target price on shares of 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 shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Needham & Company LLC increased their target price on shares of Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.00.

Rush Street Interactive Stock Performance

The firm’s fifty day simple moving average is $14.20 and its 200-day simple moving average is $11.93. The stock has a market cap of $3.69 billion, a P/E ratio of -819.50 and a beta of 1.88.

Insiders Place Their Bets

In other news, CEO Richard Todd Schwartz sold 133,905 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $14.22, for a total transaction of $1,904,129.10. Following the completion of the sale, the chief executive officer now owns 2,251,943 shares of the company’s stock, valued at $32,022,629.46. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Mattias Stetz sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. Following the sale, the chief operating officer now directly owns 575,484 shares of the company’s stock, valued at approximately $6,905,808. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 928,353 shares of company stock worth $12,828,336. 56.89% of the stock is currently owned by insiders.

Institutional Trading of Rush Street Interactive

Several large investors have recently modified their holdings of RSI. Millrace Asset Group Inc. acquired a new stake in Rush Street Interactive in the 3rd quarter valued at $2,135,000. Principal Financial Group Inc. grew its position in Rush Street Interactive by 656.2% in the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after purchasing an additional 67,388 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Rush Street Interactive by 72.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock valued at $8,907,000 after purchasing an additional 344,276 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Rush Street Interactive in the 3rd quarter valued at $656,000. Finally, GSA Capital Partners LLP grew its position in Rush Street Interactive by 42.6% in the 3rd quarter. GSA Capital Partners LLP now owns 279,367 shares of the company’s stock valued at $3,031,000 after purchasing an additional 83,436 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

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.