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Rush Street Interactive, Inc. (NYSE:RSI) Chief Operating Officer Mattias Stetz has recently sold a total of 25,000 shares of the company's Class A Common Stock. The sale comes as RSI's stock has shown remarkable strength, delivering a 251% return over the past year and trading near its 52-week high of $14.92. According to InvestingPro analysis, the company currently maintains a "GOOD" overall financial health score. The transactions, which took place on January 2 and January 3, 2025, were executed at a weighted average price range between $13.9943 and $14.0429 per share, amounting to a total value of $350,710.
The sales were conducted under a pre-established 10b5-1 trading plan, dated August 16, 2024. Following these transactions, Stetz holds 525,484 shares directly. The transactions were reported in a Form 4 filing with the Securities and Exchange Commission, which provides detailed insights into insider trading activities.
In other recent news, Rush Street Interactive (RSI) has reported a record-breaking third quarter in 2024, with revenues surging to $232 million, marking a 37% increase from the previous year. The company's adjusted EBITDA also experienced a significant rise, reaching $23 million, over five times the figure from the previous year. These results led RSI to revise its 2024 revenue guidance upwards by 3% and its EBITDA guidance by a substantial 24%.
RSI also reported a strong cash position with $216 million in unrestricted cash and no debt. Furthermore, the company announced a share buyback program of up to $50 million.
In terms of user engagement, RSI saw significant growth in Monthly Active Users (MAUs) in both North America (28%) and Latin America (122%). The company is exploring expansion into new markets, focusing on Latin America and Canada, and is considering potential acquisitions.
Despite the positive news, RSI faces challenges with low hold rates in North American sports betting and potential tax increases. However, the company remains optimistic about iGaming legalization in various states and the potential for market growth in regions such as Delaware, Brazil, Peru, and possibly Alberta.
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