Once a week I like to look at which ASX shares have been experiencing insider buying. This is because insider buying is often regarded 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:
Dicker Data Ltd (ASX: DDR)
According to a change of director’s interest notice, chief operating officer, Vladimir Mitnovetski, more than doubled his existing shareholding by snapping up 199,099 shares through an on-market trade this week. Mr Mitnovetski paid $2.83 per share for a total consideration of approximately $563,000. Dicker Data has high levels of director ownership across its C-suite, which is something that I find very attractive.
Hansen Technologies Limited (ASX: HSN)
A change of director’s interest notice reveals that non-executive director David Howell recently picked up 25,000 Hansen Technologies’ shares for $74,162.80 through an on-market trade. Mr Howell appears to have seen a lot of value in the billing solutions company’s shares after their significant decline following the release of a disappointing trading update. I think this was a good move by Mr Howell and believe the selloff was a touch overdone and left its shares trading at an attractive level.
WAM Global Limited (ASX: WGB)
According to a change of director’s interest notice, chairman Geoff Wilson picked up 28.981 shares through an on-market trade last Friday. Mr Wilson paid approximately $2.18 per share for a total consideration of $63,317.58. This lifted his holding to a total of 2,528,982 shares. WAM Global recently hit the ASX boards at a listing price of $2.20 per share. Mr Wilson appears to have seized on post-listing share price weakness to top up his holding. While I like the look of WAM Global, I’m not overly bullish on the global economy right now due to trade war concerns.
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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 Dicker Data Limited. The Motley Fool Australia owns shares of Hansen Technologies. 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.