At the end of each 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.
Three shares which have been experiencing insider buying recently are listed below:
GUD Holdings Limited (ASX: GUD)
According to a change of director's interest notice, GUD Holdings' chairman of the board has dipped into the market to pick up shares this month. Mr Mark Graham Smith bought 2,000 shares through an on-market trade for a total consideration of $29,863.81. This lifted his holding to a total of 43,000 shares. Mr Smith clearly sees value in GUD Holdings' shares despite them recently climbing to a 52-week high following the release of its full-year results.
Janus Henderson Group PLC (ASX: JHG)
A change of director's interest notice reveals that non-executive director and deputy chairman Glenn Schafer has been buying this fund manager's shares this month. According to the notice, Mr Schafer picked up 1,700 of its US-listed shares through an on-market trade. The director paid an average price of US$29.16 per share, meaning a total consideration of approximately US$49,500. This lifted Mr Schafer's holding to 18,317 ordinary shares. Janus Henderson's shares are currently trading within a whisker of their 52-week low and at a level that Schafer appears to see as attractive.
Thorney Opportunities Ltd (ASX: TOP)
Chairman Alex Waislitz has made a sizeable purchase of this listed investment company's shares this month. According to a change of director's interest notice, Mr Waislitz has snapped up 500,000 shares through on-market trades. The average price paid was 67.8 cents per share for a total consideration of $339,000. This lifted his holding to a total of 57,479,159 shares. The listed investment company's shares are currently trading at a 52-week low of 66 cents, which is a meaningful discount to its most recent NTA.
