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Richard Todd Schwartz, the Chief Executive Officer of Rush Street Interactive, Inc. (NYSE:RSI), recently executed a series of stock sales, according to a recent SEC filing. The stock has seen significant volatility lately, with a -10.7% decline over the past week, though it maintains a remarkable 74% gain over the last year. On March 10 and March 11, Schwartz sold a total of 193,905 shares of Class A Common Stock. The sales were conducted at a weighted average price ranging from $9.8532 to $10.2584 per share, amounting to a total transaction value of approximately $1.94 million. According to InvestingPro analysis, RSI currently appears undervalued, with analysts maintaining a strong buy consensus and setting price targets between $14 and $17.
These transactions were executed under a pre-established 10b5-1 trading plan, which was put in place on August 16, 2024. Following these sales, Schwartz retains direct ownership of 1,998,038 shares of the company. Rush Street Interactive is known for its involvement in the miscellaneous amusement and recreation services sector. The company maintains strong financial health with a current ratio of 1.75 and holds more cash than debt on its balance sheet. Discover more insights about RSI’s valuation and growth prospects with InvestingPro, which offers 16 additional exclusive ProTips and comprehensive analysis.
In other recent news, Rush Street Interactive reported its fourth-quarter 2024 earnings, exceeding Wall Street expectations with an earnings per share (EPS) of $0.07, compared to the projected $0.05. The company also surpassed revenue forecasts, posting $254.2 million against the anticipated $243.83 million, marking a 31% year-over-year increase. Benchmark analysts responded by raising their price target for Rush Street Interactive shares to $14, while maintaining a Buy rating, highlighting the company’s record-breaking quarter and strategic priorities.
Susquehanna analyst Joseph Stauff upgraded Rush Street Interactive’s stock from Neutral to Positive, setting a price target of $14.00. This upgrade followed a 15% decline in the stock, which Stauff attributed to an overreaction to the company’s conservative guidance for 2025. Stauff noted the company’s strong presence in Delaware and potential growth in North America’s iCasino market.
Rush Street Interactive’s full-year 2024 revenue reached $924.1 million, a 34% increase from the previous year, with adjusted EBITDA rising 11 times to $92.5 million. The company ended the year with $229 million in unrestricted cash and no debt, positioning it well for future growth. Analysts at Benchmark emphasized the company’s effective marketing strategies and iCasino expansion as key growth drivers.
The company has provided revenue guidance for 2025, projecting a range between $1,010 million and $1,080 million, with an expected adjusted EBITDA between $115 million and $135 million. Despite potential regulatory challenges in Colombia, Rush Street Interactive’s operational agility and in-house technology are seen as buffers against these obstacles.
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