Rush Street Interactive (NYSE:RSI) Stock Price Up 9.1% – Still a Buy?

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

Wall Street Analysts Forecast Growth

RSI has been the subject of a number of research analyst reports. Susquehanna raised Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Macquarie reissued an “outperform” rating and set a $16.00 price objective on shares of Rush Street Interactive in a report on Thursday, February 27th. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a research report on Monday, January 6th. Wells Fargo & Company boosted their target price on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Jefferies Financial Group upped their price target 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. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Rush Street Interactive has an average rating of “Buy” and a consensus target price of $15.50.

Rush Street Interactive Stock Performance

The firm’s 50 day moving average is $13.89 and its 200-day moving average is $12.37. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -535.55 and a beta of 1.92.

Insider Buying and Selling

In other Rush Street Interactive news, insider Einar Roosileht sold 48,968 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.04, for a total value of $687,510.72. Following the completion of the sale, the insider now owns 830,292 shares in the company, valued at approximately $11,657,299.68. This represents a 5.57 % 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 109,567 shares of Rush Street Interactive stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.85, for a total value of $1,079,234.95. Following the transaction, the chief executive officer now owns 2,082,376 shares in the company, valued at approximately $20,511,403.60. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 960,164 shares of company stock valued at $12,870,812. 56.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. R Squared Ltd purchased a new position in Rush Street Interactive during the fourth quarter worth about $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Rush Street Interactive during the 4th quarter worth approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Rush Street Interactive during the 3rd quarter valued at approximately $44,000. Point72 DIFC Ltd purchased a new stake in shares of Rush Street Interactive during the 3rd quarter valued at approximately $70,000. Finally, WealthTrak Capital Management LLC acquired a new position in Rush Street Interactive in the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

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.