Rush Street Interactive (NYSE:RSI) Reaches New 52-Week High – Time to Buy?

Rush Street Interactive, Inc. (NYSE:RSI)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $14.60 and last traded at $14.47, with a volume of 288428 shares traded. The stock had previously closed at $14.51.

Wall Street Analysts Forecast Growth

RSI has been the topic of a number of analyst reports. Needham & Company LLC lifted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Oppenheimer boosted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their target price on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Jefferies Financial Group boosted their target price on Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Craig Hallum boosted their target price on Rush Street Interactive from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rush Street Interactive presently has a consensus rating of “Moderate Buy” and an average price target of $12.43.

Rush Street Interactive Price Performance

The business has a fifty day simple moving average of $11.03 and a two-hundred day simple moving average of $9.91.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, CFO Kyle Sauers sold 25,934 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.30, for a total value of $318,988.20. Following the completion of the sale, the chief financial officer now owns 338,614 shares in the company, valued at $4,164,952.20. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul Wierbicki sold 35,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.23, for a total value of $393,050.00. Following the completion of the sale, the insider now owns 139,982 shares of the company’s stock, valued at approximately $1,571,997.86. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 279,839 shares of company stock valued at $3,145,471. 56.89% of the stock is owned by company insiders.

Institutional Trading of Rush Street Interactive

Several institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Rush Street Interactive during the third quarter valued at approximately $44,000. Point72 DIFC Ltd bought a new position in Rush Street Interactive during the third quarter valued at approximately $70,000. New York State Teachers Retirement System boosted its stake in Rush Street Interactive by 17.2% during the third quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after buying an additional 1,020 shares during the last quarter. Quarry LP boosted its stake in Rush Street Interactive by 15.9% during the second quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after buying an additional 1,200 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in Rush Street Interactive during the second quarter valued at approximately $98,000. Hedge funds and other 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.