Rush Street Interactive (NYSE:RSI) Stock Price Up 3.9% – Should You Buy?

Rush Street Interactive, Inc. (NYSE:RSI)’s share price was up 3.9% during mid-day trading on Tuesday . The stock traded as high as $13.76 and last traded at $13.75. Approximately 183,569 shares traded hands during trading, a decline of 89% from the average daily volume of 1,683,067 shares. The stock had previously closed at $13.24.

Analyst Ratings Changes

Several research firms have weighed in on RSI. Jefferies Financial Group boosted their target price on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC upped their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, 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 research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.43.

Rush Street Interactive Stock Up 2.8 %

The business has a 50-day simple moving average of $11.76 and a 200-day simple moving average of $10.30. The company has a market cap of $3.07 billion, a PE ratio of -661.75 and a beta of 1.88.

Insider Buying and Selling at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 103,905 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $11.02, for a total transaction of $1,145,033.10. Following the completion of the transaction, the chief executive officer now directly owns 1,703,578 shares of the company’s stock, valued at approximately $18,773,429.56. The trade was a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Mattias Stetz sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $14.50, for a total transaction of $362,500.00. Following the completion of the sale, the chief operating officer now directly owns 550,484 shares in the company, valued at approximately $7,982,018. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,339 shares of company stock valued at $3,612,971 in the last three months. 56.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rush Street Interactive

A number of large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rush Street Interactive during the third quarter worth $44,000. Point72 DIFC Ltd purchased a new stake in Rush Street Interactive during the 3rd quarter worth about $70,000. New York State Teachers Retirement System boosted its position in shares of Rush Street Interactive by 17.2% during the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock worth $75,000 after acquiring an additional 1,020 shares in the last quarter. Quarry LP boosted its position in shares of Rush Street Interactive by 15.9% during the 2nd quarter. Quarry LP now owns 8,762 shares of the company’s stock worth $84,000 after acquiring an additional 1,200 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Rush Street Interactive by 425.6% in the 3rd quarter. CWM LLC now owns 9,209 shares of the company’s stock valued at $100,000 after acquiring an additional 7,457 shares during the last quarter. 24.78% of the stock is owned by hedge funds and other institutional investors.

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.