Rush Street Interactive (NYSE:RSI) Sets New 52-Week High – Still a Buy?

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. JMP Securities reiterated a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Craig Hallum raised their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC boosted their target price on Rush Street Interactive from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Rush Street Interactive presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Rush Street Interactive Stock Performance

The company has a fifty day simple moving average of $13.87 and a two-hundred day simple moving average of $11.42.

Insider Activity

In other Rush Street Interactive news, insider Paul Wierbicki sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $11.23, for a total transaction of $393,050.00. Following the sale, the insider now directly owns 139,982 shares in the company, valued at approximately $1,571,997.86. This trade represents a 20.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard Todd Schwartz sold 4,419 shares of Rush Street Interactive stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.75, for a total transaction of $60,761.25. Following the completion of the transaction, the chief executive officer now directly owns 2,392,587 shares in the company, valued at approximately $32,898,071.25. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 884,287 shares of company stock worth $11,632,978 in the last 90 days. Corporate insiders own 56.89% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

A number of large investors have recently added to or reduced their stakes in RSI. American Century Companies Inc. bought a new stake in shares of Rush Street Interactive in the second quarter valued at about $311,000. Hsbc Holdings PLC boosted its position in Rush Street Interactive by 43.4% during the 2nd quarter. Hsbc Holdings PLC now owns 49,215 shares of the company’s stock worth $463,000 after acquiring an additional 14,894 shares during the last quarter. XTX Topco Ltd grew its stake in shares of Rush Street Interactive by 94.9% during the 2nd quarter. XTX Topco Ltd now owns 41,619 shares of the company’s stock worth $399,000 after acquiring an additional 20,270 shares in the last quarter. Sei Investments Co. bought a new position in shares of Rush Street Interactive during the 2nd quarter worth approximately $539,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Rush Street Interactive in the second quarter valued at approximately $235,000. 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.