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Insiders have been buying these ASX shares this week

Every Friday I like to look at which ASX shares have been experiencing insider buying.

I think keeping tabs on insider buying is important because it 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 recently are listed below:

Helloworld Travel Ltd (ASX: HLO)

According to two change of director’s interest notices, Andrew Burnes and Garry Hounsell have been buying shares on-market this week. The travel company’s CEO, Andrew Burnes, picked up 8,000 shares for a consideration of $36,294.82 and its chairman and non-executive director, Garry Hounsell, bought a total of 10,000 shares for a consideration of $46,399.79. As I said earlier this week, I think Helloworld is one of the best options in the mid cap space right now. This is especially the case after this insider buying.

Kogan.com Ltd (ASX: KGN)

There has been a lot of talk this week about CEO Ruslan Kogan looking to offload shares, but not all directors are selling. A change of director’s interest notice reveals that Greg Ridder has picked up 2,500 shares through on-market trades this week. The non-executive chairman appears to have seized on the Kogan selloff on Tuesday with a $21,500 purchase of shares the following day. This increased his holding to a total of 152,500 shares. I thought the selloff was unjustified and can’t say I’m surprised to see Mr Ridder snapping up shares.

MYOB Group Ltd (ASX: MYO)

According to a change of director’s interest notice, non-executive director Craig Boyce has dipped into the market recently to buy 25,000 shares at a price of $2.81 per share. This $70,250 purchase lifts Mr Boyce’s holding in the accounting software company to a total of 125,000 shares. While it is good to see director’s buying its shares, I’m not in a hurry to follow suit. Especially after a note out of Morgan Stanley this week revealed that the broker has placed an underweight (sell) rating on the company’s shares.

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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 Helloworld Limited. The Motley Fool Australia has recommended Kogan.com ltd. 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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