MENU

Insiders have been buying these 3 ASX shares

At the end of each week I like to look at which shares have experienced insider buying.

This is because insider buying is generally seen as a bullish indicator as few know a company, its industry, prospects, and true value better than its own directors.

Three shares which have reported meaningful insider buying this week are listed below:

InvoCare Limited (ASX: IVC)

According to a change of director’s interest notice, independent non-executive director Bart Vogel picked up 2,965 shares at an average price of $12.58 per share this week. This brought Mr Vogel’s holding in the funerals company to a total of 15,000 shares. InvoCare’s shares have fallen 8% this month after a soft full year result. While I think it is a quality company, I intend to wait for its performance to improve before making a move.

Speedcast International Ltd (ASX: SDA)

This week no less than five separate directors have been buying the shares of this provider of satellite-based communication networks and services in the satellite service provider industry. The largest purchase came from CEO Pierre-Jean Beylier who picked up 86,200 shares through on-market trades on Wednesday for an average price of $4.06 per share or a total consideration of approximately $350,000. Not far behind was independent non-executive director Grant Ferguson who picked up 35,000 shares at an average price of approximately $3.99 per share through an on-market trade. Clearly the company’s directors think Speedcast’s shares have fallen into bargain territory after a massive decline this week following a downward revision to its full year guidance.

Super Retail Group Ltd (ASX: SUL)

A change of director’s interest notice reveals that non-executive director Howard Mowlem picked up 10,000 shares through an on-market trade this week for a total consideration of $97,469.90. This doubled Mr Mowlem’s interest in the company to 20,000 shares. Mr Mowlem isn’t the only one that thinks Super Retail’s shares are in the buy zone. A broker note out of Goldman Sachs last week revealed that its analysts had retained its buy rating and lifted the price target on Super Retail’s shares to $10.85 after the release of a strong full year result.

I like Super Retail for its growth potential but also its generous dividend. Just like this fast-growing share which is in the buy zone today if you ask me.

OUR #1 dividend pick to grow your wealth now is revealed for FREE here!

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 owns shares of Super Retail Group Limited. The Motley Fool Australia has recommended InvoCare 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.

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.