MENU

Insiders have been buying these 3 ASX shares this week

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

This is because I believe insider buying is a bullish indicator as few should 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:

Breville Group Ltd (ASX: BRG)

According to a change of director’s interest notice, non-executive chairman Steven Fisher has dipped into the market this week to buy shares of the home appliance manufacturer. Mr Fisher picked up 10,000 shares through on-market trades for a total consideration of $129,671.20, which works out to be approximately $12.97 per share. The addition of these shares brought Mr Fisher’s total holding up to 110,000 shares. I’m a big fan of Breville and think it could be worth following Mr Fisher’s lead by picking up a few shares.

Harvey Norman Holdings Limited (ASX: HVN)

Gerry Harvey has been busy buying the shares of this retailer again through on-market trades this week. A further three change of director’s interest notices reveal that the director has snapped up another 595,642 Harvey Norman shares for a total consideration of $2,053,086.68. This equates to a price of $3.45 per share. Despite all this buying support from Mr Harvey, the retailer’s shares are still down 15% year to date. While its shares do look dirt cheap, I intend to wait and see how the company fares in FY 2019 before deciding whether to invest or not.

Specialty Fashion Group Ltd (ASX: SFH)

This morning this fashion retailer released a change of director’s interest notice which revealed that non-executive director Michael Hardwick has bought a substantial number of shares on-market this week. According to the note, Mr Hardwick picked up 100,000 shares for a total consideration of $129,871 or approximately $1.30 per share. This purchase brought the director’s holding up to a total of 495,000 shares. I think it is good to see that insiders still see meaningful value in the company’s shares despite their 835% gain over the last 12 months.

DON'T MISS: Top Australian Stock Picker Just Issued Rare “Double Down” Buy Alert

Discover why this legendary Australian stock-picker just issued a “Double Down” buy alert to his exclusive group of insiders… and why he’s convinced this might be the single most attractive entry point for years to come.

Simply click here to get started and access our secure sign-up page.

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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!