Rush Street Interactive (NYSE:RSI) Hits New 1-Year High – Here’s What Happened

Rush Street Interactive, Inc. (NYSE:RSI) shares reached a new 52-week high during mid-day trading on Wednesday . The stock 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.

Analysts Set New Price Targets

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

Rush Street Interactive Trading Down 2.1 %

The stock has a market capitalization of $3.21 billion, a P/E ratio of -710.50 and a beta of 1.78. The stock’s 50 day simple moving average is $11.20 and its 200 day simple moving average is $9.98.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, insider Paul Wierbicki sold 35,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $1,571,997.86. This represents a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kyle Sauers sold 25,934 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.30, for a total transaction of $318,988.20. Following the sale, the chief financial officer now directly owns 338,614 shares in the company, valued at $4,164,952.20. This trade represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 287,339 shares of company stock worth $3,250,471 in the last ninety days. 56.89% of the stock is owned by insiders.

Institutional Trading of Rush Street Interactive

A number of institutional investors and hedge funds have recently modified their holdings of RSI. Vanguard Group Inc. raised its holdings in shares of Rush Street Interactive by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company’s stock worth $35,683,000 after purchasing an additional 85,736 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Rush Street Interactive in the 2nd quarter worth about $1,565,000. Assenagon Asset Management S.A. increased its holdings in shares of Rush Street Interactive by 157.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock worth $13,666,000 after acquiring an additional 872,367 shares during the period. Calamos Advisors LLC acquired a new stake in shares of Rush Street Interactive in the 2nd quarter worth about $868,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Rush Street Interactive by 40.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 252,514 shares of the company’s stock worth $2,422,000 after acquiring an additional 72,831 shares during the period. 24.78% of the stock is 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.