More Than $9M Bet On Dave & Buster's Entertainment? 3 Stocks Insiders Are Buying

Although US stocks closed higher on Thursday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

Dave & Buster's Entertainment

• The Trade: Dave & Buster's Entertainment, Inc. PLAY 10% owner Scott Ross acquired a total of 300,000 shares an average price of $32.29. To acquire these shares, it cost around $9.69 million.
• What’s Happening: Piper Sandler recently maintained Dave & Buster's with a Neutral and lowered the price target from $44 to $34..
• What Dave & Buster's Does: Dave & Buster's Entertainment Inc owns and operates nearly a hundred entertainment and dining establishments in the United States where customers can eat, drink, play games, and watch televised sports.

Coinbase Global

• The Trade: Coinbase Global, Inc. COIN Director Tobias Lutke acquired a total of 5,519 shares at an average price of $67.61. To acquire these shares, it cost around $373.14 thousand.
• What’s Happening: Signature Bank and Coinbase Exchange recently announced today their expanded relationship.
• What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy.

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Enviva

• The Trade: Enviva Inc. EVA Chairman and CEO John K Keppler bought a total of 4,943 shares at an average price of $50.65. To acquire these shares, it cost around $250.36 thousand.
• What’s Happening: Blue Orca recently issued a bearish report on the stock.
• What Enviva Does: Enviva Inc is a global energy company specializing in sustainable wood bioenergy.