Michael Keller, a director at Super League Gaming Inc (SLGG), recently picked up 20,000 shares. The buy increased his holdings by over 11 percent, and came to a total purchase price of just over $97,000.
This is the second buy from this insider in the past year, following a 17,000 share buy in April. Company insiders, including C-suite executives and directors have all been buyers in the past 3 years. Overall, company insiders own over 14 percent of shares.
It’s easy to see why company insiders are so bullish and remain so. The e-sports and gaming company has seen shares rise more than 105 percent in the past year, as revenue has grown by over 220 percent.
While not currently profitable, the e-sports area is expected to continue growing at a rapid rate in the next few years, and also intersects with online gambling trends as well.
Action to take: Shares look interesting here given the company’s small, but growing size in a rapidly-growing industry. The company is in too early of a stage for paying a dividend, however.
Shares are likely to continue outperforming the market in the months ahead. The October $5 calls, last going for about $0.90, look capable of high double-digit moves or better before expiration.
Disclosure: The author of this article has no position in the company mentioned here, but may make a trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.