Polymer Capital Management US LLC Purchases New Holdings in Rush Street Interactive, Inc. (NYSE:RSI)

Polymer Capital Management US LLC bought a new position in Rush Street Interactive, Inc. (NYSE:RSI) during the 4th quarter, HoldingsChannel reports. The firm bought 29,867 shares of the company’s stock, valued at approximately $410,000.

Other large investors also recently made changes to their positions in the company. Cerity Partners LLC lifted its position in shares of 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 in the last quarter. Federated Hermes Inc. increased its holdings in shares of Rush Street Interactive by 2.1% during the 4th quarter. Federated Hermes Inc. now owns 1,364,989 shares of the company’s stock worth $18,728,000 after acquiring an additional 28,121 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of 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 buying an additional 21,418 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Rush Street Interactive during the fourth quarter worth approximately $1,645,000. Finally, RFG Bristol Wealth Advisors LLC acquired a new position in Rush Street Interactive in the 4th quarter valued at $222,000. Institutional investors own 24.78% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at Rush Street Interactive

In related news, insider Einar Roosileht sold 70,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $14.41, for a total value of $1,008,700.00. Following the completion of the transaction, the insider now directly owns 946,150 shares in the company, valued at approximately $13,634,021.50. The trade was a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 33,142 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $13.98, for a total value of $463,325.16. Following the transaction, the chief executive officer now directly owns 2,118,506 shares in the company, valued at $29,616,713.88. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 884,034 shares of company stock valued at $11,499,975. 56.89% of the stock is currently owned by corporate insiders.

Rush Street Interactive Trading Down 4.9 %

Shares of RSI stock opened at $10.25 on Monday. Rush Street Interactive, Inc. has a 12 month low of $5.71 and a 12 month high of $16.78. The firm’s 50 day moving average is $12.62 and its 200 day moving average is $12.55. The stock has a market capitalization of $2.34 billion, a P/E ratio of -512.35 and a beta of 1.90.

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.