MENU

Insiders have been buying these ASX shares

Once a week I like to look at which ASX shares have been experiencing meaningful insider buying. This is because insider buying is often seen as a bullish indicator as nobody should know a company and its prospects better than its own directors.

Two shares which have been experiencing insider buying recently are listed below:

Eclipx Group Ltd (ASX: ECX)

According to two change of director’s interest notices, independent non-executive directors Linda Jenkinson and Russell Shields have been buying shares on-market. Linda Jenkinson picked up her first shares in the company with a purchase of 3,258 shares at an average price of $3.08 per share. Whereas Russell Shields added to his considerable holding with a purchase of 6,000 shares at an average price of $3.09 per share. This purchase lifted Mr Shields’ holding to a total of 285,647 ordinary shares and 50,000 director options. The fleet management services and corporate and consumer asset backed finance provider’s shares have fallen 22% year-to-date and are hovering just above a 52-week low. It appears that these directors think that this is bargain territory.

WAM Global Ltd (ASX: WGB)

A change of director’s interest notice reveals that chairman Geoff Wilson AO has dipped into the market to top up his considerable holding in this investment company’s shares. According to the notice, Mr Wilson has picked up 45,436 ordinary shares for a total consideration of $98,813.03. This equates to a price of approximately $2.17 per share and has lifted his holding to a total of 2,574,418 ordinary shares. This is the second time that Mr Wilson has bought shares in the investment company since its IPO in June. That IPO saw the company list at $2.20 per share, slightly higher than where it stands today. I think it could be worth a look considering the success of its other funds such as WAM Capital Limited (ASX: WAM).

WAM Global could be a good dividend option, just like this top dividend share.

OUR #1 dividend pick to grow your wealth in FY 2019 is revealed for FREE here!

Financial year 2018 is here and The Motley Fool's dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.