Insiders have been buying these 3 ASX shares

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

This is because insider buying is often seen as a bullish indicator as few should know a company, its prospects, and true value better than its own directors.

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

Altium Limited (ASX: ALU)

According to a change of director’s interest notice, non-executive independent director Wendy Stops has been buying shares on-market recently. Stops picked up 7,606 shares in the software-as-a-service company for a combined price of $164,697.25. This lifted her holding by over 23% to 40,000 shares. I’m a big fan of the company and its award-winning printed circuit board design software, so think investors ought to consider following Wendy Stops’ lead and buy shares this week.

Amcor Limited (ASX: AMC)

This packaging company’s CEO has been buying shares on-market in recent days. According to a change of director’s interest notice, Ron Delia made two separate transactions that saw him pick up a total of 25,000 shares for a consideration of $333,850. This lifted Mr Delia’s holding to a sizeable 825,000 ordinary shares. Last week Amcor’s shares fell to a two-year low and its CEO appears to believe this put them in the bargain bin. This could make it worth taking a closer look at Amcor today.

Transurban Group (ASX: TCL)

According to a change of director’s interest notice, the toll road operator’s non-executive independent director, Robert Edgar, has dipped into the market to snap up 6,000 shares through an on-market trade. This has increased his holding in the company to 40,605 shares and could be a real boost to investor sentiment at a time when bond yields in the United States are widening. Some investors have been concerned that bond proxies such as Transurban could come under pressure as yields widen.

Three top shares that I would be buying are here. I'm tipping big things for them in 2018 and 2019.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Transurban Group. The Motley Fool Australia owns shares of Altium. 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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