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Einar Roosileht, Chief Information Officer of Rush Street Interactive, Inc. (NYSE:RSI), recently sold 9,300 shares of the company's Class A common stock. The transaction, executed on April 9, was conducted under a 10b5-1 trading plan established on September 27, 2024. The shares were sold at a price of $12 each, amounting to a total value of $111,600. The sale comes as RSI's stock has shown significant volatility, with a remarkable 66% return over the past year. According to InvestingPro analysis, the company currently appears overvalued based on its Fair Value calculations.
Following this transaction, Roosileht now directly owns 946,850 shares of Rush Street Interactive, representing a significant stake in the $2.58 billion market cap company. The trading activity was disclosed in a Form 4 filing with the Securities and Exchange Commission. InvestingPro data reveals the company maintains strong financial health with a GREAT overall score, though it trades at relatively high earnings multiples. For deeper insights into RSI's valuation and 12+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Rush Street Interactive reported its fourth-quarter 2024 earnings, exceeding Wall Street expectations with an earnings per share of $0.07 compared to the forecasted $0.05. The company also posted a revenue of $254.2 million, surpassing the anticipated $243.83 million. This strong financial performance was highlighted by a 31% year-over-year increase in revenue and a significant rise in adjusted EBITDA, which was 2.5 times higher than the previous year. Furthermore, the company concluded the year with $229 million in unrestricted cash and no debt, showcasing its solid financial position.
Analysts at Benchmark have responded positively to these results by raising their price target on Rush Street Interactive shares to $14 from $12, maintaining a Buy rating. The analysts noted the company's record-breaking quarter and highlighted its strategic priorities and effective marketing strategies as key drivers for future growth. Meanwhile, Susquehanna upgraded the company's stock from Neutral to Positive, also setting a price target of $14, citing optimism in the company's estimates and potential growth opportunities in new markets.
These upgrades reflect confidence in Rush Street Interactive's ability to navigate regulatory challenges and capitalize on growth opportunities, particularly in the iCasino sector. The company's focus on proprietary technology and innovative product features has strengthened its competitive position, especially in North America and Latin America. As Rush Street continues to explore potential market expansions and strategic initiatives, its financial outlook for 2025 remains optimistic, with revenue guidance set between $1,010 million and $1,080 million.
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