Rush Street Interactive (NYSE:RSI) Hits New 52-Week High – Time to Buy?

Shares of Rush Street Interactive, Inc. (NYSE:RSI) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.01 and last traded at $14.98, with a volume of 831695 shares trading hands. The stock had previously closed at $13.96.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RSI shares. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their price objective on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. 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 report 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Rush Street Interactive Price Performance

The business has a fifty day moving average of $13.27 and a 200-day moving average of $11.12. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -749.00 and a beta of 1.88.

Insider Buying and Selling

In other Rush Street Interactive news, insider Paul Wierbicki sold 35,000 shares of Rush Street Interactive stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.23, for a total transaction of $393,050.00. Following the transaction, the insider now 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 SEC, which is available through this hyperlink. Also, insider Einar Roosileht sold 48,968 shares of Rush Street Interactive stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total value of $687,510.72. Following the transaction, the insider now directly owns 830,292 shares in the company, valued at approximately $11,657,299.68. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 870,868 shares of company stock valued at $11,437,217. 56.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rush Street Interactive

Institutional investors and hedge funds have recently bought and sold shares of the business. Driehaus Capital Management LLC acquired a new stake in Rush Street Interactive in the 2nd quarter worth approximately $10,605,000. Marshall Wace LLP increased its position in shares of Rush Street Interactive by 185.5% during the second quarter. Marshall Wace LLP now owns 981,822 shares of the company’s stock valued at $9,416,000 after purchasing an additional 637,883 shares during the period. Millennium Management LLC increased its position in shares of Rush Street Interactive by 378.4% during the second quarter. Millennium Management LLC now owns 620,552 shares of the company’s stock valued at $5,951,000 after purchasing an additional 490,831 shares during the period. Renaissance Technologies LLC grew its position in Rush Street Interactive by 47.3% in the second quarter. Renaissance Technologies LLC now owns 1,504,200 shares of the company’s stock valued at $14,425,000 after acquiring an additional 482,872 shares during the period. Finally, Caprock Group LLC bought a new stake in Rush Street Interactive in the third quarter valued at $4,178,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

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.