Rush Street Interactive (NYSE:RSI) Hits New 52-Week High at $8.50

Rush Street Interactive, Inc. (NYSE:RSI)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $8.50 and last traded at $8.41, with a volume of 605375 shares. The stock had previously closed at $8.38.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RSI. Oppenheimer raised their price target on Rush Street Interactive from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Craig Hallum boosted their price objective on shares of Rush Street Interactive from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Susquehanna restated a “neutral” rating and issued a $6.00 target price (up from $5.00) on shares of Rush Street Interactive in a research note on Monday, March 4th. Finally, Needham & Company LLC lifted their price target on shares of Rush Street Interactive from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.33.

Rush Street Interactive Price Performance

The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -49.21 and a beta of 1.67. The stock has a fifty day simple moving average of $6.39 and a 200-day simple moving average of $5.21.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Rush Street Interactive had a negative net margin of 1.58% and a negative return on equity of 15.68%. The company had revenue of $193.85 million during the quarter, compared to analysts’ expectations of $181.50 million. As a group, equities analysts expect that Rush Street Interactive, Inc. will post -0.22 EPS for the current fiscal year.

Insider Activity

In other news, CEO Richard Todd Schwartz sold 38,687 shares of Rush Street Interactive stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $225,545.21. Following the transaction, the chief executive officer now owns 2,256,569 shares in the company, valued at approximately $13,155,797.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Rush Street Interactive news, insider Paul Wierbicki sold 22,743 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total transaction of $132,591.69. Following the completion of the transaction, the insider now owns 174,982 shares of the company’s stock, valued at $1,020,145.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard Todd Schwartz sold 38,687 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total transaction of $225,545.21. Following the completion of the sale, the chief executive officer now directly owns 2,256,569 shares in the company, valued at $13,155,797.27. The disclosure for this sale can be found here. Insiders sold 331,552 shares of company stock worth $2,094,498 over the last ninety days. Corporate insiders own 56.96% of the company’s stock.

Institutional Trading of Rush Street Interactive

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in shares of Rush Street Interactive by 33.2% during the fourth quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock worth $68,000 after buying an additional 3,764 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Rush Street Interactive by 13,627.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares during the last quarter. North Star Investment Management Corp. raised its holdings in shares of Rush Street Interactive by 303.9% in the 1st quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock valued at $134,000 after purchasing an additional 15,500 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Rush Street Interactive by 665.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock worth $98,000 after purchasing an additional 19,058 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Rush Street Interactive during the fourth quarter worth $90,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

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.