Rush Street Interactive CEO sells $2.6 million in stock

Rush Street Interactive, Inc. (NYSE:RSI), a $3.17 billion market cap company that has seen its stock surge over 54% in the past year, reported that Chief Executive Officer Richard Todd Schwartz recently sold a significant portion of his holdings. According to a filing with the Securities and Exchange Commission, Schwartz sold a total of 193,905 shares over two days, with the transactions executed under a 10b5-1 trading plan.

On June 9, Schwartz sold 123,905 shares at a weighted average price of $13.5776 per share, with prices ranging from $13.29 to $13.92. The following day, an additional 70,000 shares were sold at a weighted average price of $13.6737, with transaction prices ranging between $13.40 and $13.76 per share. The total value of these sales amounted to approximately $2.6 million. The stock has shown strong momentum recently, gaining over 10% in the past week.

Following these transactions, Schwartz retains direct ownership of 1,211,376 shares in Rush Street Interactive. These sales were part of a pre-established trading plan, which allows insiders to sell a predetermined number of shares at regular intervals. According to InvestingPro analysis, RSI maintains strong financial health with a GREAT overall score, though it currently trades at a relatively high P/E ratio of 139.6x. For deeper insights into insider trading patterns and comprehensive valuation metrics, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.

In other recent news, Rush Street Interactive Inc. (RSI) reported impressive Q1 2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.09, exceeding the forecast of $0.07. The company also reported revenue of $262.4 million, which was above the projected $258.85 million, marking a 21% increase year-over-year. Additionally, RSI has expanded its PropPacks product line to include Major League Baseball (MLB), enhancing the sports betting experience for its users. Meanwhile, Citizens JMP highlighted significant growth in the iGaming sector for April, with Caesars (NASDAQ:CZR) Entertainment experiencing a 45% rise in revenue. RSI’s strong performance is further underscored by its strategic focus on user experience and cross-sell capabilities, contributing to its favorable position in the competitive online gaming market. The company also demonstrated robust growth in its online casino and sports betting segments, with a notable expansion in its user base across North America and Latin America. RSI’s CEO, Richard Schwartz, emphasized the company’s commitment to innovation and enhancing player experiences. These developments reflect RSI’s ongoing efforts to provide unique and engaging experiences for its users while maintaining strong financial performance.

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