Insiders have been buying NAB and these ASX shares this week

Insiders have been buying National Australia Bank Ltd (ASX:NAB) shares and two others recently. Here's the inside scoop…

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Once a week I like to look at which shares have experienced meaningful insider buying.

This is because insider buying is often regarded as a bullish indicator, as few people know a company and its intrinsic value better than its own directors.

Three shares which have reported meaningful insider buying this week are listed below:

Dicker Data Ltd (ASX: DDR)

A change of director's interest notice reveals that the COO of this distributor of information technology products, Vladimir Mitnovetski, has been buying shares on-market this week. According to the notice, Mr Mitnovetski picked up 25,000 shares through an on-market trade on 23 May. The executive paid an average of $4.90 per share or a total consideration of $122,500. This purchase increased his holding to a total of 628,713 shares. Mr Mitnovetski appears to see value in Dicker Data's shares despite their impressive gain over the last 12 months.

National Australia Bank Ltd (ASX: NAB)

According to a change of director's interest notice, this banking giant's CEO, Philip Chronican, has been buying shares on-market this month. The notice reveals that Mr Chronican bought 9,000 shares on 16 May, bringing his total holding to 40,000 shares. The CEO paid a total of $217,403 for the shares, which equates to an average price of $24.16 per share. This certainly was good timing by Mr Chronican. At present the NAB share price is trading at $25.55, which is almost 6% higher than his buy price.

OZ Minerals Limited (ASX: OZL)

The chairman of this leading copper miner has been buying shares on-market this week. According to a change of director's interest notice, Rebecca McGrath picked up 4,900 OZ Minerals shares through an on-market trade on 21 May. The chairman paid an average of $9.21 per share, which equates to a total consideration of $45,129. This purchase increases McGrath's holding to a total of 42,835 shares.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. The Motley Fool Australia owns shares of National Australia Bank Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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