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

Rush Street Interactive, Inc. (NYSE:RSI) shares reached a new 52-week high on Tuesday . The company traded as high as $14.96 and last traded at $14.76, with a volume of 1458193 shares changing hands. The stock had previously closed at $14.20.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RSI. 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 report on Thursday, October 31st. Craig Hallum upped their target price on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research report on Monday. Finally, Jefferies Financial Group boosted their price objective on Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.43.

Rush Street Interactive Price Performance

The company has a 50 day simple moving average of $12.91 and a 200-day simple moving average of $10.95. The stock has a market capitalization of $3.34 billion, a P/E ratio of -739.00 and a beta of 1.88.

Insiders Place Their Bets

In related news, insider Paul Wierbicki sold 35,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 139,982 shares of the company’s stock, valued at approximately $1,571,997.86. This represents a 20.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Todd Schwartz sold 103,905 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the completion of the transaction, the chief executive officer now directly owns 1,703,578 shares of the company’s stock, valued at approximately $18,773,429.56. The trade was a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 542,106 shares of company stock worth $6,757,094 over the last quarter. 56.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rush Street Interactive

Institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Rush Street Interactive in the third quarter worth $44,000. Point72 DIFC Ltd purchased a new position in shares of Rush Street Interactive in the 3rd quarter worth about $70,000. New York State Teachers Retirement System increased its position in shares of Rush Street Interactive by 17.2% during the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after purchasing an additional 1,020 shares during the last quarter. Quarry LP raised its holdings in shares of Rush Street Interactive by 15.9% during the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after buying an additional 1,200 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Rush Street Interactive in the 2nd quarter worth approximately $98,000. Hedge funds and other 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.