Insiders have been buying these 3 ASX shares

Once a week I like to look at which ASX shares have been experiencing insider buying and selling.

This is because in theory nobody should know a company and its prospects better than its directors. So when insiders are shown to be buying shares it is often regarded as a bullish indicator and vice versa when they are seen to be selling shares.

Three shares which have been experiencing meaningful insider buying recently are listed below. Here’s what you need to know:

Harvey Norman Holdings Limited (ASX: HVN)

For a second week in a row Gerry Harvey has been in the market adding to his considerable shareholding. According to his change of director’s interest notice, Mr Harvey added an additional 267,589 shares at a combined price of $974,425.34. This leaves Harvey with a total interest of just under 250 million shares. Despite all his buying, Harvey Norman’s shares are still within a whisker of their 52-week low.

Nufarm Limited (ASX: NUF)

A change of director’s interest notice reveals that director Marie McDonald has acquired 8,584 shares at a price of $8.72 per share through an on-market trade. These are the first shares picked up by McDonald, who is also a director of CSL Limited (ASX: CSL). Last week Nufarm delivered a strong half-year result which was well-received by the market and led to Ord Minnett upgrading its shares to a buy rating.

Polynovo Ltd (ASX: PNV)

According to a change of director’s interest notice, non-executive chairman David Williams has increased his indirect interest in the company through the purchase of 2,100,000 shares at 49 cents per share via an on-market trade. This has increased Mr Williams’ interest in the dermal regeneration-focused medical device company to 14.1 million shares. Last month Polynovo reported a 31% increase in half-year revenue to $2.75 million.

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