Rush Street Interactive (NYSE:RSI) Hits New 52-Week High – Here’s Why

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

Analyst Ratings Changes

RSI has been the subject of several research reports. Jefferies Financial Group upped their price objective on shares of Rush Street Interactive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Craig Hallum boosted their price objective on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC raised 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, the company has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Rush Street Interactive Trading Up 6.1 %

The company has a fifty day moving average of $14.26 and a 200-day moving average of $11.99. The stock has a market cap of $3.77 billion, a PE ratio of -834.70 and a beta of 1.88.

Insider Buying and Selling

In other Rush Street Interactive news, CFO Kyle Sauers sold 146,015 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $13.91, for a total transaction of $2,031,068.65. Following the sale, the chief financial officer now owns 433 shares in the company, valued at $6,023.03. This represents a 99.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Todd Schwartz sold 90,000 shares of Rush Street Interactive stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $11.20, for a total value of $1,008,000.00. Following the completion of the transaction, the chief executive officer now owns 1,613,578 shares of the company’s stock, valued at $18,072,073.60. The trade was a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 928,353 shares of company stock valued at $12,828,336 in the last ninety days. Company insiders own 56.89% of the company’s stock.

Institutional Trading of Rush Street Interactive

Hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Rush Street Interactive by 7,958.9% in 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 acquired a new stake in Rush Street Interactive in the fourth quarter valued at $24,851,000. William Blair Investment Management LLC purchased a new stake in Rush Street Interactive during the 4th quarter worth about $21,635,000. Vanguard Group Inc. increased its holdings in shares of Rush Street Interactive by 14.0% in the 4th quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock valued at $117,943,000 after acquiring an additional 1,056,583 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Rush Street Interactive by 62.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,663,246 shares of the company’s stock worth $36,540,000 after acquiring an additional 1,018,889 shares in the last quarter. Institutional investors and hedge funds 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.