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

Rush Street Interactive, Inc. (NYSE:RSI)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.92 and last traded at $14.78, with a volume of 93119 shares traded. The stock had previously closed at $14.73.

Analysts Set New Price Targets

RSI has been the topic of a number of recent analyst reports. Needham & Company LLC boosted 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 report on Thursday, October 31st. Jefferies Financial Group boosted 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. Finally, Craig Hallum increased their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have given 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 target price of $12.43.

Rush Street Interactive Stock Down 2.0 %

The firm’s 50 day simple moving average is $11.51 and its two-hundred day simple moving average is $10.15. The stock has a market capitalization of $3.26 billion, a P/E ratio of -736.50 and a beta of 1.88.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.23, for a total transaction of $393,050.00. Following the transaction, the insider now directly owns 139,982 shares of the company’s stock, valued at $1,571,997.86. The trade was a 20.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kyle Sauers sold 25,934 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.30, for a total transaction of $318,988.20. Following the completion of the sale, the chief financial officer now directly owns 338,614 shares of the company’s stock, valued at $4,164,952.20. The trade was a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 287,339 shares of company stock valued at $3,250,471 in the last three months. Corporate insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Several hedge funds have recently added to or reduced their stakes in RSI. Vanguard Group Inc. lifted its position in shares of Rush Street Interactive by 1.6% during the 1st 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. SG Americas Securities LLC bought a new position in Rush Street Interactive during the second quarter worth about $1,565,000. Assenagon Asset Management S.A. increased its stake in shares of Rush Street Interactive by 157.9% in 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 in the last quarter. Calamos Advisors LLC bought a new stake in shares of Rush Street Interactive in the second quarter valued at approximately $868,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Rush Street Interactive by 40.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 252,514 shares of the company’s stock valued at $2,422,000 after buying an additional 72,831 shares in the last quarter. Institutional investors 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.