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

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

Several other large investors have also modified their holdings of the business. Exchange Traded Concepts LLC lifted its position in Rush Street Interactive by 0.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 260,380 shares of the company's stock valued at $3,572,000 after buying an additional 1,087 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Rush Street Interactive in the 4th quarter valued at approximately $28,000. Arizona State Retirement System lifted its holdings in shares of Rush Street Interactive by 11.0% in the 4th quarter. Arizona State Retirement System now owns 22,913 shares of the company's stock worth $314,000 after acquiring an additional 2,265 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Rush Street Interactive by 2.4% during the 4th quarter. Rhumbline Advisers now owns 103,426 shares of the company's stock worth $1,419,000 after purchasing an additional 2,457 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in Rush Street Interactive in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 24.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Jefferies Financial Group upped their price target 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. Benchmark lifted their price objective on shares of Rush Street Interactive from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 28th. JMP Securities reaffirmed a "market perform" rating on shares of Rush Street Interactive in a research note on Monday, January 6th. Susquehanna raised shares of Rush Street Interactive from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Macquarie reaffirmed an "outperform" rating and set a $16.00 price objective 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 given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $15.50.

Insider Activity

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 sale, the insider now owns 946,150 shares in the company, valued at $13,634,021.50. This represents a 6.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 109,567 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.85, for a total transaction of $1,079,234.95. Following the transaction, the chief executive officer now directly owns 2,082,376 shares in the company, valued at $20,511,403.60. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 759,700 shares of company stock worth $9,007,338. Corporate insiders own 56.89% of the company's stock.

Rush Street Interactive Trading Up 3.8 %

RSI stock traded up $0.43 during trading on Friday, hitting $11.72. 1,228,628 shares of the company's stock were exchanged, compared to its average volume of 1,895,677. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -586.05 and a beta of 1.90. Rush Street Interactive, Inc. has a 52-week low of $5.71 and a 52-week high of $16.78. The business has a 50-day moving average price of $12.16 and a two-hundred day moving average price of $12.55.

Rush Street Interactive 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.