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Insiders have been buying Altium and 2 other ASX shares this week

At the end of each week I like to look at which shares have experienced meaningful insider buying. This is because insider buying is often regarded as a bullish indicator as few people know a company and its intrinsic value better than its own directors.

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

Altium Limited (ASX: ALU)

According to a change of director’s interest notice, non-executive director Lynn Mickleburgh snapped up 6,800 Altium shares through an on-market trade on December 28. Ms Mickleburgh paid a total of US$100,234.72 for the shares, including brokerage. This purchase increased the director’s holding in the electronic design software provider by approximately 58% to 18,400 shares. I think Altium is one of the best buy and hold options on the local market, making it well worth following the lead of Ms Mickleburgh this month.

Mayne Pharma Group Ltd (ASX: MYX)

A change of director’s interest notice reveals that non-executive director Nancy Dolan has added to her holding with the purchase of 27,272 Mayne Pharma shares. Ms Dolan paid a total of $21,172.69 or 77.6 cents per share through an on-market trade. This increased Ms Dolan’s holding in the pharmaceutical company by approximately 37% to a total of 101,772 shares. Mayne Pharma’s shares have almost halved in value since peaking at $1.42 around three months ago and appear to be trading at a level that this director thinks is attractive.

Origin Energy Ltd (ASX: ORG)

According to a change of director’s interest notice, independent non-executive director Maxine Brenner has purchased 6,250 Origin Energy shares for an average of $6.34 per share or a total consideration of $39,625. This lifted Brenner’s holding in the integrated energy company to a total of 28,367 shares. Last month the company’s shares fell to a 52-week low of $6.03 due to the crash in oil prices. This purchase may signal that this director believes its share price has bottomed now.

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

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