Rush Street Interactive (NYSE:RSI) Sets New 12-Month High – Here’s Why

Rush Street Interactive, Inc. (NYSE:RSI)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $15.98 and last traded at $15.47, with a volume of 159967 shares changing hands. The stock had previously closed at $15.36.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RSI shares. Craig Hallum lifted their price objective on 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 research report on Monday, January 6th. Jefferies Financial Group raised their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, Needham & Company LLC raised their target price on Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Rush Street Interactive Stock Performance

The stock has a fifty day moving average of $13.75 and a 200-day moving average of $11.37. The company has a market cap of $3.45 billion, a PE ratio of -764.00 and a beta of 1.88.

Insider Activity at Rush Street Interactive

In related news, insider Paul Wierbicki sold 35,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.23, for a total transaction of $393,050.00. Following the completion of the sale, the insider now directly owns 139,982 shares in the company, valued at $1,571,997.86. This represents a 20.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Richard Todd Schwartz sold 4,419 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $13.75, for a total value of $60,761.25. Following the sale, the chief executive officer now owns 2,392,587 shares of the company’s stock, valued at $32,898,071.25. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 884,287 shares of company stock worth $11,632,978 in the last quarter. 56.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Millrace Asset Group Inc. acquired a new position in Rush Street Interactive during the 3rd quarter valued at about $2,135,000. Principal Financial Group Inc. increased its holdings in shares of Rush Street Interactive by 656.2% in the third quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after purchasing an additional 67,388 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Rush Street Interactive by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 820,955 shares of the company’s stock valued at $8,907,000 after purchasing an additional 344,276 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Rush Street Interactive in the third quarter valued at about $656,000. Finally, GSA Capital Partners LLP increased its holdings in shares of Rush Street Interactive by 42.6% in the third quarter. GSA Capital Partners LLP now owns 279,367 shares of the company’s stock valued at $3,031,000 after purchasing an additional 83,436 shares during the period. 24.78% of the stock is owned by institutional investors and hedge funds.

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.