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

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RSI. Craig Hallum increased 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. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a report on Monday. Jefferies Financial Group upped their price target on shares of Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC increased their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.43.

Rush Street Interactive Price Performance

The stock has a market capitalization of $3.28 billion, a PE ratio of -727.50 and a beta of 1.88. The firm’s 50 day simple moving average is $13.07 and its 200 day simple moving average is $11.01.

Insider Activity

In other Rush Street Interactive news, 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 value of $1,145,033.10. Following the sale, the chief executive officer now owns 1,703,578 shares of the company’s stock, valued at $18,773,429.56. This trade represents a 5.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of the company’s stock in a transaction dated 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 approximately $1,571,997.86. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 542,106 shares of company stock valued at $6,757,094. 56.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rush Street Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in RSI. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Rush Street Interactive in the 3rd quarter worth $44,000. Point72 DIFC Ltd purchased a new position in shares of Rush Street Interactive during the third quarter valued at about $70,000. New York State Teachers Retirement System raised 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 worth $75,000 after buying an additional 1,020 shares in the last quarter. Quarry LP lifted its holdings in Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after buying an additional 1,200 shares during the period. Finally, CWM LLC boosted its position in Rush Street Interactive by 425.6% during the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after acquiring an additional 7,457 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.