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.
