Shares of theScore (Stock Quote, Chart, News: TSXV:SCR) have doubled since last October, but one insider thinks there is still upside in the stock.
theScore President and COO Ben Levy made two purchases of the stock in the open market recently.
On March 11th, Levy bought 50,000 shares of theScore at $0.58, and later that day he bought 50,000 more at $0.57.
The purchases came after Levy participated in a $26.5-million bought deal financing that closed on March 5th. The underwriters bought 39.56-million units at $0.67. The units included one Class A share and one-half of one Class A share purchase warrant. Levy bought 2,984,000 shares of the financing.
Early in February, Euro Pacific Canada analyst Rob Goff raised his price target on theScore after the company released of an app that allows users to follow the world of competitive online gaming.
“…theScore has aggressively redefined its target market entering complementary silos each of which could hold potential on par with its firmly established sports app,” said Goff. The analyst said the company has the infrastructure, brand and entrepreneurial culture to succeed at the intersection of sports, gaming and gambling.
At press time, shares of SCR were up 10.7% to $0.62.