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

Rush Street Interactive, Inc. (NYSE:RSI) shares reached a new 52-week high during trading 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.

Wall Street Analyst Weigh In

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

Rush Street Interactive Trading Down 1.3 %

The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -665.50 and a beta of 1.78. The stock’s 50 day moving average price is $10.95 and its 200 day moving average price is $9.85.

Insider Activity at Rush Street Interactive

In related news, insider Einar Roosileht sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $9.09, for a total value of $1,363,500.00. Following the completion of the sale, the insider now directly owns 809,260 shares in the company, valued at approximately $7,356,173.40. This trade represents a 15.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Wierbicki sold 35,000 shares of the 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 completion of the transaction, the insider now directly owns 139,982 shares in the company, valued at approximately $1,571,997.86. This represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 429,839 shares of company stock worth $4,508,971. Insiders own 56.89% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Rush Street Interactive by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after purchasing an additional 85,736 shares during the period. Bayesian Capital Management LP bought a new position in shares of Rush Street Interactive during the first quarter worth approximately $403,000. Levin Capital Strategies L.P. increased its holdings in shares of 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 purchasing an additional 25,000 shares during the period. SG Americas Securities LLC bought a new position in shares of Rush Street Interactive during the second quarter worth approximately $1,565,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Rush Street Interactive by 157.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock worth $13,666,000 after purchasing an additional 872,367 shares during the period. 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.