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

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Jefferies Financial Group raised their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Craig Hallum raised their target price 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. Two equities research 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 currently has an average rating of “Moderate Buy” and an average target price of $14.00.

Rush Street Interactive Price Performance

The company has a market cap of $3.45 billion, a price-to-earnings ratio of -764.00 and a beta of 1.88. The business’s fifty day moving average price is $13.75 and its 200 day moving average price is $11.37.

Insider Transactions at Rush Street Interactive

In related news, insider Paul Wierbicki sold 35,000 shares of the business’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 in the company, valued at approximately $1,571,997.86. The trade was a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Todd Schwartz sold 4,419 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $13.75, for a total transaction of $60,761.25. Following the transaction, the chief executive officer now owns 2,392,587 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 884,287 shares of company stock worth $11,632,978. Company insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Several hedge funds and other institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC raised its position in shares of Rush Street Interactive by 0.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company’s stock valued at $3,572,000 after purchasing an additional 1,087 shares during the period. SG Americas Securities LLC raised its position in shares of Rush Street Interactive by 29.9% in the fourth quarter. SG Americas Securities LLC now owns 56,842 shares of the company’s stock valued at $780,000 after purchasing an additional 13,095 shares during the period. Harbour Capital Advisors LLC bought a new stake in shares of Rush Street Interactive in the fourth quarter valued at approximately $822,000. JPMorgan Chase & Co. increased its holdings in Rush Street Interactive by 155.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 265,412 shares of the company’s stock worth $2,880,000 after acquiring an additional 161,568 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Rush Street Interactive by 656.2% during the 3rd quarter. Principal Financial Group Inc. now owns 77,658 shares of the company’s stock valued at $843,000 after acquiring an additional 67,388 shares during the period. 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.