Rush Street Interactive, Inc. (NYSE:RSI) Chief Operating Officer Mattias Stetz executed a sale of company stock worth more than $30,000, according to a recent SEC filing. The transaction took place on April 19, with the COO selling a total of 5,001 shares at an average price of $6.1144 per share, resulting in a total value of $30,578.
The shares sold by Stetz were part of a tax withholding obligation related to the vesting and settlement of Performance Stock Units (PSUs) and previously disclosed restricted stock units. The "sell to cover" transaction was not at the discretion of Stetz, as it was made under a prior irrevocable election to cover tax withholdings. The sale prices ranged from $5.93 to $6.46 per share, with the reported average price reflecting a weighted average.
In the same filing, it was noted that Stetz also acquired 16,234 shares of Rush Street Interactive's Class A Common Stock upon the vesting of PSUs originally granted on April 9, 2021. The vesting of these shares was contingent upon meeting specific performance criteria. This acquisition did not involve any monetary transaction, as it was related to the distribution of shares exempt from Section 16 pursuant to Rule 16a-12.
After these transactions, Stetz's ownership in Rush Street Interactive stands at 606,730 shares of Class A Common Stock. The company, based in Chicago, Illinois, operates in the miscellaneous amusement and recreation services industry and is known for its interactive gaming and betting solutions.
InvestingPro Insights
As Rush Street Interactive, Inc. (NYSE:RSI) navigates the dynamic landscape of the gaming and betting industry, its financial metrics and stock performance provide a broader context for interpreting recent executive transactions. The company's market capitalization currently stands at $1.34 billion, reflecting its position in the market. Despite facing challenges in profitability with a negative P/E ratio of -22.28 for the last twelve months as of Q4 2023, the company has demonstrated revenue growth of 16.71% during the same period, suggesting an expanding operation.
InvestingPro Tips highlight that Rush Street Interactive's stock has experienced significant volatility, with a notable price uptick of 66.67% over the last six months as of April 2024. This is complemented by a strong return of 88.07% over the last year, indicating a substantial recovery and positive momentum for investors. However, the stock has taken a hit over the last week, with a total return of -8.07%, potentially reflecting broader market sentiments or specific company events.
Another key metric to consider is the Price / Book ratio, which at 24.76 as of Q4 2023, indicates that the stock is trading at a high multiple of its book value. This could suggest a premium on the company's assets and future growth expectations. Additionally, it's worth noting that Rush Street Interactive does not pay a dividend to shareholders, which may influence investment decisions for those seeking regular income streams.
For investors seeking deeper insights and additional metrics, InvestingPro offers a comprehensive suite of tools and analytics. There are currently 11 additional InvestingPro Tips available for Rush Street Interactive, which can be accessed at https://www.investing.com/pro/RSI. To further enrich your investment strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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