Rush Street Interactive (NYSE:RSI) Shares Up 9.1% – Should You Buy?

Rush Street Interactive, Inc. (NYSE:RSI) shares shot up 9.1% during trading on Friday . The stock traded as high as $10.58 and last traded at $10.57. 682,405 shares traded hands during trading, a decline of 63% from the average session volume of 1,839,267 shares. The stock had previously closed at $9.68.

Wall Street Analysts Forecast Growth

RSI has been the subject of a number of research reports. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Wells Fargo & Company increased their price objective on shares of Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Susquehanna raised shares of Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Needham & Company LLC restated a “buy” rating and set a $17.00 target price on shares of Rush Street Interactive in a research report on Thursday, February 27th. Finally, Macquarie reiterated an “outperform” rating and issued a $16.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Rush Street Interactive has an average rating of “Buy” and a consensus price target of $15.50.

Rush Street Interactive Stock Performance

The company has a market capitalization of $2.45 billion, a P/E ratio of -537.25 and a beta of 1.92. The firm’s fifty day moving average is $13.73 and its 200 day moving average is $12.38.

Insider Activity

In other news, insider Paul Wierbicki sold 7,500 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total transaction of $112,500.00. Following the completion of the sale, the insider now directly owns 139,387 shares of the company’s stock, valued at approximately $2,090,805. The trade was a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Todd Schwartz sold 109,567 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the completion of the transaction, the chief executive officer now directly owns 2,082,376 shares in the company, valued at $20,511,403.60. This represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 960,164 shares of company stock valued at $12,870,812. 56.89% of the stock is currently owned by insiders.

Institutional Trading of Rush Street Interactive

Large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Rush Street Interactive by 7,958.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,029,239 shares of the company’s stock valued at $27,843,000 after purchasing an additional 2,004,059 shares in the last quarter. Topline Capital Management LLC purchased a new position in shares of Rush Street Interactive during the fourth quarter valued at $24,851,000. William Blair Investment Management LLC bought a new stake in shares of Rush Street Interactive in the fourth quarter valued at about $21,635,000. Nicholas Investment Partners LP purchased a new stake in Rush Street Interactive in the fourth quarter worth about $14,970,000. Finally, Vanguard Group Inc. grew its holdings in Rush Street Interactive by 14.0% during the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock worth $117,943,000 after acquiring an additional 1,056,583 shares in the last quarter. Hedge funds and other 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.