Polymer Capital Management US LLC Invests $410,000 in Rush Street Interactive, Inc. (NYSE:RSI)

Polymer Capital Management US LLC acquired a new stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 29,867 shares of the company’s stock, valued at approximately $410,000.

Several other large investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its position in Rush Street Interactive by 22.4% in the fourth quarter. Cerity Partners LLC now owns 15,031 shares of the company’s stock worth $205,000 after purchasing an additional 2,753 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Rush Street Interactive by 2.1% in the fourth quarter. Federated Hermes Inc. now owns 1,364,989 shares of the company’s stock valued at $18,728,000 after buying an additional 28,121 shares during the period. Wells Fargo & Company MN increased its holdings in Rush Street Interactive by 32.4% during the 4th quarter. Wells Fargo & Company MN now owns 87,551 shares of the company’s stock worth $1,201,000 after purchasing an additional 21,418 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in Rush Street Interactive in the 4th quarter valued at approximately $1,645,000. Finally, RFG Bristol Wealth Advisors LLC acquired a new position in Rush Street Interactive during the fourth quarter worth $222,000. 24.78% of the stock is owned by institutional investors.

Rush Street Interactive Price Performance

Rush Street Interactive stock opened at $10.25 on Monday. The stock has a market cap of $2.34 billion, a P/E ratio of -512.35 and a beta of 1.90. The firm’s 50 day moving average price is $12.62 and its 200-day moving average price is $12.55. Rush Street Interactive, Inc. has a 1 year low of $5.71 and a 1 year high of $16.78.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $17.00 price target on shares of Rush Street Interactive in a research report on Thursday, February 27th. JMP Securities reissued a “market perform” rating on shares of Rush Street Interactive in a report on Monday, January 6th. Jefferies Financial Group upped their target price on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Macquarie restated an “outperform” rating and issued a $16.00 price target on shares of Rush Street Interactive in a research note on Thursday, February 27th. Finally, Wells Fargo & Company lifted their price target on Rush Street Interactive from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $15.50.

Insider Activity at Rush Street Interactive

In related news, COO Mattias Stetz sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $10.84, for a total value of $216,800.00. Following the completion of the sale, the chief operating officer now owns 426,051 shares of the company’s stock, valued at approximately $4,618,392.84. This represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul Wierbicki sold 7,500 shares of the business’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 value of $112,500.00. Following the completion of the sale, the insider now directly owns 139,387 shares in the company, valued at approximately $2,090,805. The trade was a 5.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 884,034 shares of company stock worth $11,499,975 in the last quarter. 56.89% of the stock is owned by company insiders.

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.