BofA update shows where active managers are putting money
Mattias Stetz, the Chief Operating Officer of Rush Street Interactive, Inc. (NYSE:RSI), recently sold 20,000 shares of the company’s Class A common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $10.8429, resulting in a total transaction value of approximately $216,858. The sale comes as RSI’s stock has shown significant volatility, with a remarkable 57% return over the past year according to InvestingPro data.
The shares were sold as part of a pre-arranged 10b5-1 trading plan, which was established on August 16, 2024. Following this transaction, Stetz directly owns 426,051 shares of the company. Additionally, through indirect ownership by his spouse, he holds 205,448 shares. Want deeper insights into insider trading patterns and company valuations? InvestingPro offers comprehensive analysis through its Pro Research Reports, available for over 1,400 US stocks.
Rush Street Interactive, headquartered in Chicago, operates in the miscellaneous amusement and recreation services sector. With a market capitalization of $2.46 billion, the company maintains strong financial health, earning a "GREAT" rating from InvestingPro’s comprehensive analysis framework.
In other recent news, Rush Street Interactive has reported impressive fourth-quarter 2024 earnings, exceeding Wall Street expectations. The company achieved an earnings per share of $0.07, surpassing the forecasted $0.05, and reported revenue of $254.2 million, above the anticipated $243.83 million. This marks a 31% year-over-year increase in revenue, showcasing strong performance in both the iCasino and sports betting sectors. Additionally, Rush Street Interactive’s full-year revenue for 2024 reached $924.1 million, a 34% increase from the previous year, with adjusted EBITDA rising 11 times to $92.5 million. Analysts at Benchmark have responded to these results by raising their price target for Rush Street Interactive shares from $12 to $14, maintaining a Buy rating. Similarly, Susquehanna analyst Joseph Stauff upgraded the stock from Neutral to Positive, also setting a price target of $14. These upgrades reflect optimism regarding the company’s strategic initiatives and market position, despite potential regulatory challenges in markets like Colombia. The company’s strategic focus on expanding its iCasino operations and its effective marketing strategies are highlighted as key drivers for future growth.
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