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:
Catapult Group International Ltd (ASX: CAT)
According to a change of director’s interest notice, independent non-executive director James Orlando saw his indirect interest increase by 25,000 shares this week for a total consideration of $28,918. The purchases of these shares were made over the period of three days and took Mr Orlando’s interest to a total of 80,000 Catapult shares. Last week the sports analytics company’s shares fell to a multi-year low of $1.05, just a touch under the average purchase price of $1.16 for these shares.
Kogan.com Ltd (ASX: KGN)
All eyes were on this e-commerce company for share sales from directors this week, but the only action came from a reasonably substantial purchase made by non-executive chairman Greg Ridder. Mr Ridder picked up 8,000 Kogan shares for a total consideration of $49,095.32 through an on-market trade. This brought Mr Ridder’s interest up to a total of 160,500 shares. I don’t blame Ridder for picking up shares this week. I think Kogan’s shares are great value at this level and well worth considering.
Treasury Wine Estates Ltd (ASX: TWE)
A change of director’s interest notice reveals that this wine company’s chairman has picked up shares through on-market trades this week. Mr Paul Rayner picked up 18,700 shares at an average price of approximately $18.73 per share. Based on this price per share the total consideration was in the region of $350,000. This brought Mr Rayner’s interest in Treasury Wine Estates to a total of 268,734 shares including direct and indirect interests. It appears that Mr Rayner is confident that the company can build on its strong full year result in FY 2019 and beyond.
Should you buy Catapult shares as well? Read this and decide.
Earlier this year, millions of Australians set alarms and watched the world's biggest sporting event, the World Cup, play out. But did you know there was another Australian representative quietly succeeding as the world watched?
It's the start-up who have positioned themselves as the global leader in sports analytics. Motley Fool's resident tech expert has already upgraded the recommendation of this company's stock to a rating of simply "Buy More".
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Catapult Group International Ltd. The Motley Fool Australia has recommended Kogan.com ltd and Treasury Wine Estates Limited. 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.