In-Depth Analysis Report on Rush Street Interactive (RSI) CFO's Stock Sale Event

According to SEC Form 4 filings, Kyle Sauers, Chief Financial Officer of Rush Street Interactive, sold 160,067 shares of the company’s Class A common stock on January 8, 2026, with a weighted average transaction price of $19.0707 per share, totaling approximately $3.05 million [1]. A key feature of this transaction is that it was

, which was set up when the insider did not possess material non-public information (MNPI) [2].

The background of this sale is as follows: On January 6, 2026, Sauers’ Performance Stock Units (PSU) vested, granting him 533,556 shares, while 210,375 shares were used to cover related taxes [1]. After the sale, Sauers still directly holds 663,306 shares and indirectly holds 4,700 shares through his children’s accounts, indicating he still has significant equity interest in the company.

Mattias Stetz, COO of the company, also conducted a similar stock sale through a trust during the same period (January 2, 2026), which indicates that insider stock sales are systematic and planned [3].

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Stock sales by insiders through a 10b5-1 plan are

; on the contrary, they are regarded as a in many cases. According to SEC regulations, a 10b5-1 plan must be established when the insider is not aware of any material non-public information, with specific transaction prices, quantities, and timings pre-set [2]. This institutional design is intended to provide transparency guarantees for investors.

Assessment Dimension	Influencing Factor	Signal Intensity
Nature of Trading Plan	Pre-established 10b5-1 plan, not an ad-hoc decision	Positive
Sale Proportion	Approximately 19% of net shares after vesting, moderate proportion	Neutral
Insider Share Retention	Still holds a significant number of shares after the sale	Positive
Timing of Transaction	Conducted after earnings release (positive Q3 results)	Positive
Industry Environment	Strong growth in the online gambling industry	Positive

+0.65 (out of 1.0), categorized as a

In terms of stock price performance, RSI shares did not experience a significant decline after the news was disclosed. On January 8, 2026 (the execution date of the sale), the closing price was $19.17, representing a 3.51% increase on the day [4]. Technical analysis shows that the stock price is currently in a

, with a key support level of $18.77 and a resistance level of $19.57. The MACD indicator shows no obvious crossover signal, and the KDJ indicator is in a neutral to weak state [5].

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RSI delivered impressive results in Q3 2025:

• Revenue
  : $277.91 million, up 20% year-over-year, marking the 10th consecutive quarter of sequential growth [6]
• Net Profit
  : $14.8 million, a significant improvement from $3.2 million in the same period last year
• Adjusted EBITDA
  : $36 million, up 54% year-over-year
• Monthly Active Users (MAU)
  : 34% growth in the U.S. and Canada markets, 46% growth in the online casino market [6]

• Market Capitalization: $5.553 billion
• P/E Ratio: 73.73x (relatively high, reflecting market expectations for growth)
• ROE: 28.93% (excellent performance)
• Current Ratio: 1.91 (sound financial condition)
• Profit Margins: Net profit margin 2.83%, operating profit margin 6.63% [4]

Wall Street analysts maintain a

for RSI:

Rating Distribution	Percentage
Buy	75%
Hold	25%

• Consensus Target Price: $23.50 (representing a 22.6% upside from the current price)
• Target Price Range: $23.00 - $26.00 [4]

Recent analyst actions show that institutions such as Needham and Jefferies have maintained their buy ratings, with Jefferies reaffirming its buy view on October 30, 2025 [4].

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The U.S. gambling market is in a critical period of digital transformation. According to industry research data:

• 2024
  : Overall gambling market revenue increased by 11%
• 2025
  : Expected overall growth of 12%, online gambling growth of 28%
• 2026
  : Expected overall growth of 9%, online gambling growth of 20% [7]

The growth rate of the online gambling segment is significantly higher than that of traditional casino operations, which is highly aligned with RSI’s business structure - 99.4% of the company’s revenue comes from online gambling [4].

RSI has multiple competitive advantages in the online gambling industry:

1. Market Coverage
   : Operates in 15 U.S. states and multiple jurisdictions in Canada and Latin America
2. Brand Recognition
   : Brands such as BetRivers, PlaySugarHouse, and RushBet have high visibility
3. Compliance Qualifications
   : One of the first U.S. online gambling operators to obtain RG Check iGaming certification
4. Industry Honors
   : Won the EGR North America Best Customer Service Operator Award for five consecutive years (2020-2024) [6]

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For institutional investors, the CFO’s 10b5-1 stock sale plan is usually considered within a broader investment analysis framework:

• Planned stock sale demonstrates insiders’ compliance with regulatory requirements
• The sale was not accompanied by large-scale selling by other insiders
• The company has strong fundamentals and sustained earnings growth
• The industry is in an upward cycle

• High P/E ratio (73.73x), posing valuation adjustment risks
• Beta coefficient of 1.58, indicating stock price volatility is higher than the broader market
• The gambling industry is highly susceptible to regulatory policy changes

Based on comprehensive analysis, our assessment of RSI’s investment value is as follows:

1. Short-term (1-3 months)
   : The stock price may experience minor fluctuations due to insider stock sales, but the support level of $18.77 is expected to provide effective support
2. Mid-term (3-6 months)
   : With the release of Q4 2025 earnings (expected on February 25, 2026) and upward earnings guidance, the stock price is expected to challenge the $23 resistance level
3. Long-term (6-12 months)
   : Benefiting from the 28% CAGR of the online gambling industry, RSI has strong growth potential

Investors should pay attention to regulatory policy changes, intensified market competition, and the impact of macroeconomic fluctuations on online gambling consumption.

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The stock sale by Kyle Sauers, CFO of Rush Street Interactive,

. This conclusion is based on the following comprehensive considerations:

1. Transaction Compliance
   : The stock sale was executed in accordance with a 10b5-1 trading plan, which complies with SEC regulatory requirements. The insider did not possess material non-public information when the plan was established [2]
2. Share Retention
   : The insider still holds a large number of shares after the sale, demonstrating confidence in the company’s long-term development
3. Timing
   : The transaction took place after the release of positive Q3 earnings results, and is a regular liquidation of vested equity incentives
4. Industry Background
   : The online gambling industry is in a period of rapid growth, with online gambling expected to grow by 28% in 2025 [7]
5. Company Fundamentals
   : RSI has achieved sequential revenue growth for 10 consecutive quarters, with Q3 2025 revenue up 20% year-over-year and adjusted EBITDA up 54% [6]

Against the backdrop of the company’s sustained positive performance and strong industry growth, this stock sale event has limited impact on long-term investment value. Investors should focus more on the company’s fundamental performance and industry development trends.

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The chart above presents a comprehensive analysis view of RSI stock, including: the CFO’s transaction timeline, comparison of valuation and analyst target prices, growth outlook for the U.S. online gambling market, and an insider transaction signal assessment matrix.

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[1] StockTitan - “Rush Street Interactive CFO reports PSU vesting and stock sale” (https://www.stocktitan.net/sec-filings/RSI/form-4-rush-street-interactive-inc-insider-trading-activity-c7e4b9e37a5b.html)

[2] Investopedia - “Understanding SEC’s Rule 10b5-1: Insider Trading Plan Explained” (https://www.investopedia.com/terms/r/rule-10b5-1.asp)

[3] MarketBeat - “Insider Selling: Rush Street Interactive (NYSE:RSI) COO Sells…” (https://www.marketbeat.com/instant-alerts/insider-selling-rush-street-interactive-nysersi-coo-sells-90000-shares-of-stock-2026-01-06/)

[4] Jinling API Data - Rush Street Interactive Company Profile and Real-Time Quotes

[5] Jinling API Data - RSI Technical Analysis Report

[6] SEC EDGAR - Rush Street Interactive 8-K Filing (2025-10-29) (https://www.sec.gov/Archives/edgar/data/1793659/000179365925000190/rsi-20251029.htm)

[7] Morningstar - “2025 US Gaming Stock Trends: The Odds Look Strong” (https://www.morningstar.com/stocks/2025-us-gaming-industry-trends)