Matthias Stetz, Chief Operating Officer of Rush Street Interactive, Inc. (NYSE:RSI), recently sold shares of the company's Class A common stock. According to a filing with the Securities and Exchange Commission, the transactions took place on January 14 and 15, 2025. The company, currently worth $3.42 billion, has seen its shares rise more than 310% in the past year.
Stetz sold a total of 15,000 shares, at prices ranging from $15.00 to $15.16 per share. The total value of these transactions was $227,160. The sales were executed pursuant to a prearranged 10b5-1 trading plan, which was established on August 16, 2024. Following these transactions, Stetz directly owns 586,089 shares, while his wife indirectly holds an additional 205,448 shares. The stock is currently trading near its 52-week high of $15.68.
Rush Street Interactive is a prominent player in the online gaming and sports betting industry, and these insider transactions are often closely watched by investors as potential indicators of executive sentiment regarding the company's future performance. The company demonstrated strong revenue growth of 30% over the past 12 months and maintained a 'Good' financial health rating according to InvestingProwhich provides 15 additional valuable insights into the Relative Strength Index (RSI) performance and outlook in its comprehensive research report.
In other recent news, Rush Street Interactive (RSI) reported record growth for the third quarter of 2024. The company's revenue rose to $232 million, representing a 37% increase year-over-year, while adjusted EBITDA rose To 23 million dollars. A five-fold increase over the previous year. These results indicate RSI's revenue has increased for the 15th consecutive time since going public.
Following this strong performance, RSI has revised its 2024 revenue guidance upward by 3% and EBITDA guidance by a significant 24%, and expects EBITDA to be 110% higher than initial expectations for the year. The company also reported significant growth in monthly active users (MAUs) in both North America (28%) and Latin America (122%).
RSI announced a stock repurchase program of up to $50 million and reported a strong cash position with $216 million in unrestricted cash and no debt. The company is also exploring expansion into new markets, with a focus on Latin America and Canada, and is considering potential acquisitions. Despite potential regulatory risks and low retention rates in North American sports betting, RSI remains optimistic about its growth trajectory.
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