CHICAGO—Judith Gold, a director at Rush Street Interactive, Inc. (NYSE:RSI), sold a significant portion of her holdings in the company, according to a recent filing with the Securities and Exchange Commission. Gold sold a total of 139,000 shares of Class A Common Stock over two days, December 30 and December 31, 2024, with a total transaction value of approximately $1.9 million. The sale comes as RSI's stock has shown remarkable strength, with a 203% gain over the past year and a current market capitalization of $3.09 billion.
The shares were sold at prices ranging from $13.5495 to $13.75 per share. These transactions were conducted under a previously established 10b5-1 trading plan dated September 26, 2024. According to InvestingPro data, RSI's stock has demonstrated significant momentum, with a 42% increase over the past six months.
Following these sales, Gold, through the Daniel S. Kotcher Revocable Trust, no longer holds any shares of Class A Common Stock. The transactions were part of a strategic financial decision, as indicated by the use of a 10b5-1 plan, which allows insiders to sell a predetermined number of shares at a predetermined time to avoid accusations of insider trading. The company maintains a strong financial position with a current ratio of 1.71 and impressive revenue growth of 30.31% in the last twelve months.
Rush Street Interactive, headquartered in Chicago, operates in the miscellaneous amusement and recreation services sector. The company is known for its online sports betting and casino gaming services. For a comprehensive analysis of RSI's financial health and growth prospects, investors can access detailed research reports and additional insights through InvestingPro.
In other recent news, Rush Street Interactive (RSI) reported a record-breaking third quarter in 2024, with revenues soaring to $232 million, a 37% increase from the previous year. The company's adjusted EBITDA also experienced a significant rise to $23 million, marking a more than fivefold increase year-over-year. This strong performance led RSI to revise its 2024 revenue guidance up by 3% and its EBITDA guidance by 24%, now forecasting an EBITDA over 110% above initial expectations for the year.
RSI also announced a share buyback program of up to $50 million and reported a strong cash position with $216 million in unrestricted cash and no debt. The company's Monthly Active Users (MAUs) grew notably in both North America (28%) and Latin America (122%).
RSI is exploring expansion into new markets, particularly focusing on Latin America and Canada, and is open to potential acquisitions. Despite challenges with low hold rates in North American sports betting and potential regulatory risks, RSI remains optimistic about iGaming legalization momentum in various states. The company is also preparing for a January launch in Brazil and planning market entries in Peru and potentially Alberta.
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