Rush Street Interactive (NYSE:RSI) Reaches New 1-Year High – Here’s Why

Rush Street Interactive, Inc. (NYSE:RSI)’s stock price reached a new 52-week high during trading on Thursday . The stock 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Craig Hallum boosted 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. 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 report on Thursday, October 31st. Oppenheimer upped their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group raised their target price on Rush Street Interactive from $15.00 to $16.00 and gave the company 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.43.

Rush Street Interactive Stock Up 9.8 %

The company has a 50 day moving average of $10.82 and a two-hundred day moving average of $9.79. The firm has a market cap of $3.03 billion, a P/E ratio of -655.50 and a beta of 1.78.

Insider Activity at Rush Street Interactive

In related news, CEO Richard Todd Schwartz sold 103,905 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the completion of the sale, the chief executive officer now owns 1,703,578 shares in the company, valued at $18,773,429.56. This represents a 5.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Mattias Stetz sold 5,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $6,905,808. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 429,839 shares of company stock valued at $4,508,971. Company insiders own 56.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Rush Street Interactive by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock valued at $35,683,000 after acquiring an additional 85,736 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Rush Street Interactive in the 1st quarter valued at $1,673,000. Bayesian Capital Management LP acquired a new stake in Rush Street Interactive during the 1st quarter worth $403,000. Levin Capital Strategies L.P. lifted its holdings in Rush Street Interactive by 250.0% during the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock worth $228,000 after acquiring an additional 25,000 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Rush Street Interactive in the 2nd quarter valued at approximately $1,565,000. 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.