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

Rush Street Interactive, Inc. (NYSE:RSI) shares hit a new 52-week high on Thursday . The company traded as high as $12.48 and last traded at $12.48, with a volume of 301446 shares changing hands. The stock had previously closed at $12.21.

Analysts Set New Price Targets

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

Rush Street Interactive Trading Up 9.8 %

The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -655.50 and a beta of 1.78. The company’s 50 day simple moving average is $10.82 and its 200-day simple moving average is $9.79.

Insiders Place Their Bets

In other Rush Street Interactive news, insider Einar Roosileht sold 150,000 shares of Rush Street Interactive stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total value of $1,363,500.00. Following the transaction, the insider now owns 809,260 shares in the company, valued at $7,356,173.40. This trade represents a 15.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Todd Schwartz sold 103,905 shares of Rush Street Interactive stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $11.02, for a total value of $1,145,033.10. Following the completion of the transaction, the chief executive officer now directly owns 1,703,578 shares in the company, valued at $18,773,429.56. This represents a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 429,839 shares of company stock valued at $4,508,971 in the last quarter. 56.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in Rush Street Interactive by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock valued at $18,843,000 after buying an additional 92,314 shares during the last quarter. Barclays PLC raised its stake in shares of Rush Street Interactive by 178.6% in the 3rd quarter. Barclays PLC now owns 192,628 shares of the company’s stock valued at $2,090,000 after purchasing an additional 123,486 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Rush Street Interactive during the third quarter valued at approximately $576,000. XTX Topco Ltd raised its position in shares of Rush Street Interactive by 53.7% during the 3rd quarter. XTX Topco Ltd now owns 63,958 shares of the company’s stock valued at $694,000 after acquiring an additional 22,339 shares in the last quarter. Finally, State Street Corp boosted its holdings in Rush Street Interactive by 3.6% in 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 period. 24.78% of the stock is owned by institutional investors and hedge funds.

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.