Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz sold a total of 208,390 shares of the company's stock in two separate transactions, according to the latest filings with the Securities and Exchange Commission. The transactions, which took place on April 1st and 2nd, resulted in Schwartz receiving a total of $1,401,063.
On the first day of April, Schwartz sold 101,951 shares at a weighted average price of $6.779 per share. The following day, he sold an additional 106,439 shares for an average price of $6.6699. The prices for the shares sold ranged from $6.60 to $6.855 on the first day and from $6.60 to $6.81 on the second day.
The sales were executed to cover tax withholding obligations related to the vesting and settlement of previously disclosed restricted stock units. It was noted that these transactions were not discretionary trades but were instead made pursuant to a prior irrevocable election by Schwartz.
Following these transactions, Schwartz still holds a substantial number of shares in the company, with his ownership standing at 2,048,179 shares after the sales were completed.
Investors and followers of Rush Street Interactive will be keeping an eye on the company's stock performance and any further transactions that may be reported by its executives.
InvestingPro Insights
Amidst the recent transactions by Rush Street Interactive, Inc. (NYSE:RSI) CEO Richard Todd Schwartz, investors are keenly observing the company's financial health and market performance. According to real-time data from InvestingPro, Rush Street Interactive currently has a market capitalization of approximately $1.5 billion. The company's stock price has been experiencing notable volatility, as highlighted by an InvestingPro Tip, which could be a factor for investors to consider in the context of the CEO's stock sales.
Another notable InvestingPro Tip for Rush Street Interactive is its high Price / Book ratio, which stands at 27.87 as of the last twelve months ending Q4 2023. This metric suggests that the market values the company significantly higher than its book value, which might be indicative of investor confidence in the company's future growth prospects or intangible assets.
Investors may also find it relevant that, despite recent profitability challenges, analysts predict the company will turn profitable this year. This optimistic outlook is reinforced by the company's strong stock performance over the last year, with a 118.65% return, and a significant price uptick over the last six months, showing a 49.78% return.
For those interested in a more in-depth analysis, InvestingPro provides additional insights into Rush Street Interactive's financials and performance metrics. There are more InvestingPro Tips available, which can be accessed by visiting the dedicated page for Rush Street Interactive at https://www.investing.com/pro/RSI. For those looking to subscribe, use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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