CHICAGO – Judith Gould, principal of Rush Street Interactive, Inc., has sold (NYSE:RSI), a significant portion of its holdings in the company, according to a recent filing with the Securities and Exchange Commission. Gold sold a total of 139,000 shares of Class A common stock over two days, December 30 and 31, 2024, for a total transaction value of approximately $1.9 million. The sale comes as RSI stock has shown notable strength, with gains of 203% over the past year and a current market cap of $3.09 billion.
The shares were sold at prices ranging from $13.5495 to $13.75 per share. These transactions were made pursuant to a 10b5-1 trading plan previously established on September 26, 2024. InvestingPro According to the data, the RSI stock has shown significant momentum, with a 42% increase over the past six months.
Following these sales, Gold, through the Daniel S. Kotcher Revocable Trust, no longer holds any shares of Class A common stock. The transactions were part of a strategic financial decision, as evidenced by the use of a 10b5-1 plan, which allows insiders to sell a predetermined number of shares at a predetermined time to avoid insider trading charges. The company maintains a strong financial position with a current ratio of 1.71 and an impressive revenue growth of 30.31% in the past twelve months.
Headquartered in Chicago, Rush Street Interactive operates within the diversified entertainment and leisure services industry. The company is known for its sports betting services and online casino games. For a comprehensive analysis of the financial health and growth prospects of the Relative Strength Index (RSI), investors can access detailed research reports and additional insights through InvestingPro.
In other recent news, Rush Street Interactive (RSI) announced a record third quarter in 2024, with revenue rising to $232 million, an increase of 37% from the previous year. The company's adjusted EBITDA also saw a significant rise to $23 million, representing a more than five-fold increase compared to last year. This strong performance has led RSI to revise its 2024 revenue guidance by 3% and EBITDA guidance by 24%, and now expects EBITDA to exceed 110% above initial expectations for the year.
RSI also announced a stock buyback program of up to $50 million and reported a strong cash position of $216 million in unrestricted cash and no debt. The company's number of monthly active users (MAUs) rose significantly in both North America (28%) and Latin America (122%).
RSI is exploring expansion into new markets, with a particular focus on Latin America and Canada, and is open to potential acquisitions. Despite the challenges of low retention rates in North American sports betting and potential regulatory risks, RSI remains optimistic about iGaming legalization momentum in various states. The company is also preparing for a January launch in Brazil and plans to enter the market in Peru and possibly Alberta.
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