Rush Street Interactive (NYSE:RSI) Reaches New 12-Month High – Here’s What Happened

Shares of Rush Street Interactive, Inc. (NYSE:RSI) hit a new 52-week high on Tuesday . The stock 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

Several brokerages have commented on RSI. Craig Hallum raised their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a research note on Monday. Jefferies Financial Group boosted their price objective on shares of Rush Street Interactive from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, 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 note 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.43.

Rush Street Interactive Trading Down 1.3 %

The firm has a market capitalization of $3.28 billion, a P/E ratio of -727.50 and a beta of 1.88. The business’s 50 day simple moving average is $13.07 and its two-hundred day simple moving average is $11.01.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, insider Einar Roosileht sold 48,968 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.04, for a total value of $687,510.72. Following the completion of the transaction, the insider now owns 830,292 shares of the company’s stock, valued at approximately $11,657,299.68. The trade was a 5.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mattias Stetz sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the transaction, the chief operating officer now owns 575,484 shares in the company, valued at $6,905,808. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 542,106 shares of company stock valued at $6,757,094 over the last 90 days. Corporate insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Rush Street Interactive during the third quarter valued at approximately $44,000. Point72 DIFC Ltd bought a new position in shares of Rush Street Interactive during the 3rd quarter valued at approximately $70,000. New York State Teachers Retirement System increased its holdings in Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after acquiring an additional 1,020 shares in the last quarter. Quarry LP raised its stake in Rush Street Interactive by 15.9% during the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after acquiring an additional 1,200 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Rush Street Interactive during the second quarter valued at approximately $98,000. 24.78% of the stock is owned by institutional investors.

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.