Rush Street Interactive (NYSE:RSI) Trading 9.1% Higher – Should You Buy?

Shares of Rush Street Interactive, Inc. (NYSE:RSI) rose 9.1% during trading on Friday . The stock traded as high as $10.58 and last traded at $10.57. Approximately 682,405 shares changed hands during trading, a decline of 63% from the average daily volume of 1,839,267 shares. The stock had previously closed at $9.68.

Analyst Ratings Changes

RSI has been the subject of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Rush Street Interactive in a research report on Thursday, February 27th. Macquarie reissued an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a report on Thursday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Finally, Benchmark lifted their price objective on Rush Street Interactive from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Rush Street Interactive currently has a consensus rating of “Buy” and an average target price of $15.50.

Rush Street Interactive Price Performance

The company has a market capitalization of $2.45 billion, a P/E ratio of -537.25 and a beta of 1.92. The firm’s 50-day moving average is $13.73 and its 200-day moving average is $12.38.

Insider Activity

In other Rush Street Interactive news, insider Paul Wierbicki sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $15.00, for a total transaction of $112,500.00. Following the sale, the insider now owns 139,387 shares in the company, valued at approximately $2,090,805. This trade represents a 5.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 4,419 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $13.75, for a total transaction of $60,761.25. Following the completion of the transaction, the chief executive officer now owns 2,392,587 shares of the company’s stock, valued at approximately $32,898,071.25. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 960,164 shares of company stock valued at $12,870,812 in the last 90 days. Company insiders own 56.89% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Rush Street Interactive by 14.0% during the fourth 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 period. Arrowstreet Capital Limited Partnership raised its stake in 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 valued at $36,540,000 after purchasing an additional 1,018,889 shares during the period. Driehaus Capital Management LLC lifted its holdings in Rush Street Interactive by 56.6% in the 4th quarter. Driehaus Capital Management LLC now owns 2,200,517 shares of the company’s stock worth $30,191,000 after purchasing an additional 795,719 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 worth $27,843,000 after purchasing an additional 2,004,059 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Rush Street Interactive by 43.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,962,400 shares of the company’s stock valued at $26,924,000 after buying an additional 598,300 shares in the last quarter. Hedge funds and other institutional investors 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.