Rush Street Interactive (NYSE:RSI) Sets New 12-Month High – Still a Buy?

Rush Street Interactive, Inc. (NYSE:RSI)’s share price 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 trading hands. The stock had previously closed at $12.21.

Analyst Ratings Changes

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

Rush Street Interactive Stock Down 1.3 %

The business’s 50 day moving average is $10.95 and its two-hundred day moving average is $9.85. The firm has a market cap of $3.00 billion, a P/E ratio of -665.50 and a beta of 1.78.

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 on Monday, November 11th. The shares were sold at an average price of $11.23, for a total value of $393,050.00. Following the completion of the sale, the insider now directly owns 139,982 shares of the company’s stock, valued at approximately $1,571,997.86. The trade was a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $1,363,500.00. Following the completion of the sale, the insider now directly owns 809,260 shares of the company’s stock, valued at approximately $7,356,173.40. This trade represents a 15.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 429,839 shares of company stock valued at $4,508,971 over the last quarter. Insiders own 56.89% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently bought and sold shares of RSI. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Rush Street Interactive in the third quarter valued at $44,000. Point72 DIFC Ltd bought a new stake in Rush Street Interactive in the third quarter valued at $70,000. New York State Teachers Retirement System increased its stake in Rush Street Interactive by 17.2% in the third 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 in the last quarter. Quarry LP increased its stake in Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Rush Street Interactive in the second quarter valued at $98,000. 24.78% of the stock is 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.