Fund 1 Investments, LLC, owner of more than 10% of Tilly’s (NYSE:TLYS) shares, has been on a buying spree of TLYS stock over the past few months. Shares of Tilly’s traded over 2% higher in yesterday’s extended trade. TLYS is a retailer of casual apparel, footwear, and accessories.
In the most recent transaction, the firm bought 324,869 shares of TLYS stock between June 5 and June 8, at a weighted average price of $6.09 per share. The transaction’s total consideration stands at about $2 million.
Earlier in June, Fund 1 Investments purchased 208,710 shares of the company for a total value of $1.45 million. With the completion of the latest transaction, the firm now holds 6.23 million shares of the company, worth $39.2 million.
It is worth mentioning that another major insider disclosed a small Buy transaction yesterday. Tilly’s CFO, Michael Henry, recently purchased 3,400 shares of TLYS, amounting to a value of $21,318.
Considering the optimistic outlook from insiders, it would be prudent to anticipate significant positive developments in the company’s future.
Additionally, despite Tilly’s lower-than-expected first-quarter results, two analysts reiterated a Buy rating on the stock.
Bullish Insider Confidence Signal
Overall, corporate insiders have bought TLYS shares worth $12.5 million over the last three months. TipRanks’ Insider Trading Activity Tool shows that insider confidence in Tilly’s is currently Positive.
Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is TLYS a Good Stock to Buy?
On TipRanks, TLYS stock has a Moderate Buy consensus rating based on two unanimous Buys. The average stock price target of $8 implies 26.4% upside potential. Shares have tanked by 35.3% so far in 2023.
