In a recent transaction on April 19, Richard Todd Schwartz, Chief Executive Officer of Rush Street Interactive, Inc. (NYSE:RSI), sold 23,737 shares of the company's Class A Common Stock. The shares were sold at a weighted average price of $6.1144, totaling over $145,137 in value. This sale was part of a pre-planned transaction to cover tax withholding obligations related to vested Performance Stock Units (PSUs).
The sale price of the shares ranged from $5.93 to $6.46, with the exact number of shares sold at each price available upon request. It is important to note that this sale does not represent a discretionary trade by Schwartz but is instead a result of an irrevocable election made previously to satisfy tax withholding requirements.
On the same day, Schwartz also acquired 38,555 shares upon the vesting and settlement of PSUs that were granted on April 9, 2021. These shares vested based on the achievement of certain performance criteria set by the company. The transaction did not involve any monetary exchange, as they were granted as part of the executive's compensation package.
Following these transactions, Schwartz's direct ownership in Rush Street Interactive stands at 2,062,997 shares of Class A Common Stock. The company, known for its services in miscellaneous amusement and recreation, is incorporated in Delaware and has its business address in Chicago, Illinois.
Investors and followers of Rush Street Interactive can obtain further details regarding the specific transactions from the company or the Securities and Exchange Commission upon request.
InvestingPro Insights
As investors scrutinize the recent transactions involving Rush Street Interactive, Inc. (NYSE:RSI), it's crucial to consider the financial health and performance trends of the company. With a market capitalization of $1.34 billion, Rush Street Interactive shows significant size in its sector. The company's stock has experienced notable volatility, with a PRONEWS24 promo code offering additional insights on these trends through InvestingPro.
InvestingPro Data reveals a Price to Book (P/B) ratio of 24.76 as of the last twelve months ending Q4 2023, indicating a premium valuation compared to the book value of the company. Despite not being profitable over the last twelve months, with a negative P/E ratio of -22.28, analysts have a positive outlook, predicting profitability for the current year. This aligns with the company's revenue growth of 16.71% during the same period, showcasing its potential for future earnings.
InvestingPro Tips suggest that while Rush Street Interactive has faced a significant price decline over the last week, it has also seen a strong return over the last three months, with a 22.75% price total return. Additionally, the company holds more cash than debt, providing a solid liquidity position, which is reflected in its ability to cover short-term obligations with its liquid assets.
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