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Mattias Stetz, the Chief Operating Officer of Rush Street Interactive, Inc. (NYSE:RSI), recently sold shares of the company's Class A common stock. According to a filing with the Securities and Exchange Commission, the transactions occurred on January 14 and January 15, 2025. The company, currently valued at $3.42 billion, has seen its stock surge over 310% in the past year.
Stetz sold a total of 15,000 shares, with prices ranging from $15.00 to $15.16 per share. The total value of these transactions amounted to $227,160. The sales were executed under a pre-arranged 10b5-1 trading plan, which was established on August 16, 2024. Following these transactions, Stetz holds 586,089 shares directly, while an additional 205,448 shares are held indirectly by his spouse. The stock is currently trading near its 52-week high of $15.68.
Rush Street Interactive is a prominent player in the online gaming and sports betting industry, and these insider transactions are often closely watched by investors as potential indicators of executive sentiment regarding the company's future performance. The company has demonstrated strong revenue growth of 30% over the last twelve months and maintains a "GOOD" financial health rating according to InvestingPro, which offers 15 additional valuable insights about RSI's performance and outlook in its comprehensive Pro Research Report.
In other recent news, Rush Street Interactive (RSI) has reported record growth for the third quarter of 2024. The company's revenues soared to $232 million, marking a 37% increase year-over-year, while the adjusted EBITDA rose to $23 million, a fivefold increase from the previous year. These results indicate RSI's 15th consecutive period of revenue increase since going public.
Following this strong performance, RSI has revised its 2024 revenue guidance upwards by 3% and its EBITDA guidance by a substantial 24%, forecasting EBITDA to be 110% above initial expectations for the year. The company also reported a significant growth in Monthly Active Users (MAUs) in both North America (28%) and Latin America (122%).
RSI has announced a share buyback program of up to $50 million and reported a robust cash position with $216 million in unrestricted cash and no debt. The company is also exploring expansion into new markets, with a focus on Latin America and Canada, and is considering potential acquisitions. Despite potential regulatory risks and low hold rates in North American sports betting, RSI remains optimistic about its growth trajectory.
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