Rush Street Interactive (NYSE:RSI) Sets New 12-Month High - Time to Buy?

Key Points

• Rush Street Interactive shares reached a new 52-week high at $22.58, reflecting strong investor interest with a trading volume of 409,852 shares.
• Analysts are optimistic about the company, with several brokerages raising their price targets and providing ratings from "buy" to "outperform," resulting in a consensus target price of $18.33.
• Insider activity shows significant stock sales, including a 96.7% decrease in ownership by Director Masi Niccolo De, who sold over 446,000 shares for approximately $8.19 million.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $22.58 and last traded at $22.52, with a volume of 409852 shares trading hands. The stock had previously closed at $22.02.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. assumed coverage on Rush Street Interactive in a research note on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price target on the stock. Benchmark raised their price target on Rush Street Interactive from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Susquehanna reaffirmed a "positive" rating and set a $19.00 price objective (up previously from $15.00) on shares of Rush Street Interactive in a report on Wednesday, July 30th. Wall Street Zen lowered Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. Finally, Zacks Research raised Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.33.

Rush Street Interactive Stock Performance

The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 110.66 and a beta of 1.90. The stock's 50-day moving average price is $19.26 and its 200-day moving average price is $14.78.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%.The firm had revenue of $269.22 million for the quarter, compared to analyst estimates of $248.98 million. During the same quarter in the prior year, the company earned $0.04 EPS. Rush Street Interactive's revenue was up 22.2% on a year-over-year basis. Rush Street Interactive has set its FY 2025 guidance at EPS. Analysts anticipate that Rush Street Interactive, Inc. will post 0.04 earnings per share for the current year.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, insider Einar Roosileht sold 70,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $21.47, for a total transaction of $1,502,900.00. Following the transaction, the insider owned 876,150 shares of the company's stock, valued at $18,810,940.50. This represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Richard Todd Schwartz sold 57,167 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $20.87, for a total value of $1,193,075.29. Following the completion of the transaction, the chief executive officer owned 823,566 shares of the company's stock, valued at $17,187,822.42. The trade was a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,928,903 shares of company stock worth $34,066,543 in the last quarter. Insiders own 56.89% of the company's stock.

Institutional Trading of Rush Street Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in RSI. Bank of America Corp DE increased its holdings in shares of Rush Street Interactive by 28.0% during the 4th quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock worth $7,735,000 after buying an additional 123,305 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Rush Street Interactive by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,270 shares of the company's stock worth $594,000 after buying an additional 1,632 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Rush Street Interactive by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 21,410 shares of the company's stock worth $294,000 after buying an additional 7,043 shares during the last quarter. Tidal Investments LLC boosted its position in Rush Street Interactive by 6.3% during the 4th quarter. Tidal Investments LLC now owns 38,360 shares of the company's stock worth $526,000 after purchasing an additional 2,280 shares during the period. Finally, Two Sigma Advisers LP boosted its position in Rush Street Interactive by 545.6% during the 4th quarter. Two Sigma Advisers LP now owns 73,600 shares of the company's stock worth $1,010,000 after purchasing an additional 62,200 shares during the period. 24.78% of the stock is currently 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.