Rush Street Interactive (NYSE:RSI) Reaches New 1-Year High - Should You Buy?

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) shares reached a new 52-week high on Friday . The company traded as high as $16.08 and last traded at $16.13, with a volume of 64745 shares changing hands. The stock had previously closed at $15.73.

Wall Street Analysts Forecast Growth

RSI has been the subject of a number of analyst reports. Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Craig Hallum increased their price target on Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. JMP Securities reissued a "market perform" rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Needham & Company LLC upped their target price on Rush Street Interactive from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.00.

Rush Street Interactive Price Performance

The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -803.25 and a beta of 1.88. The business has a fifty day simple moving average of $14.39 and a 200 day simple moving average of $12.08.

Insider Buying and Selling

In related news, COO Mattias Stetz sold 5,000 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the transaction, the chief operating officer now directly owns 575,484 shares in the company, valued at approximately $6,905,808. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Einar Roosileht sold 48,968 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total transaction of $687,510.72. Following the sale, the insider now directly owns 830,292 shares of the company's stock, valued at approximately $11,657,299.68. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 838,353 shares of company stock worth $11,820,336. 56.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RSI. R Squared Ltd purchased a new stake in Rush Street Interactive in the 4th quarter valued at $28,000. Heck Capital Advisors LLC purchased a new stake in shares of Rush Street Interactive in the fourth quarter valued at about $34,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Rush Street Interactive in the third quarter valued at about $44,000. Point72 DIFC Ltd acquired a new stake in Rush Street Interactive during the third quarter worth about $70,000. Finally, WealthTrak Capital Management LLC purchased a new position in Rush Street Interactive during the fourth quarter worth about $71,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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.