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

Rush Street Interactive, Inc. (NYSE:RSI) shares reached a new 52-week high during mid-day 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.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RSI shares. Needham & Company LLC lifted their price objective 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. Jefferies Financial Group lifted their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Finally, Craig Hallum lifted their target price 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Rush Street Interactive Stock Performance

The company has a market capitalization of $3.69 billion, a P/E ratio of -819.50 and a beta of 1.88. The stock has a 50 day moving average price of $14.20 and a 200 day moving average price of $11.93.

Insider Activity at Rush Street Interactive

In related news, insider Einar Roosileht sold 70,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $14.41, for a total value of $1,008,700.00. Following the sale, the insider now directly owns 946,150 shares in the company, valued at approximately $13,634,021.50. The trade was a 6.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 4,419 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $13.75, for a total value of $60,761.25. Following the completion of the sale, the chief executive officer now owns 2,392,587 shares in the company, valued at $32,898,071.25. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 928,353 shares of company stock worth $12,828,336. Company insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RSI. Millrace Asset Group Inc. purchased a new position in Rush Street Interactive during the 3rd quarter valued at about $2,135,000. Principal Financial Group Inc. grew its holdings in Rush Street Interactive by 656.2% during the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after buying an additional 67,388 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Rush Street Interactive by 72.2% during 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 buying an additional 344,276 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Rush Street Interactive during the 3rd quarter valued at about $656,000. Finally, GSA Capital Partners LLP grew its holdings in Rush Street Interactive by 42.6% during the 3rd quarter. GSA Capital Partners LLP now owns 279,367 shares of the company’s stock valued at $3,031,000 after buying an additional 83,436 shares in the last quarter. 24.78% of the stock is currently owned by institutional investors.

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.