I like to keep a close eye on 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.
A number of shares have reported meaningful insider buying this week. Here are a few that caught my eye:
Dicker Data Ltd (ASX: DDR)
This wholesale distributor of computer hardware and software has seen two of its directors buy shares on-market this week. According to the change of director's interest notices, chief financial officer Mary Stojcevski and chief operating officer Vladimir Mitnovetski bought shares through on-market trades on March 9. Stojcevski picked up a modest 3,000 shares at $5.50 per share and Mitnovetski snapped up 29,806 shares for an average of ~$5.37 per shares. This lifted their holdings to a total of 224,343 shares and 750,551 shares, respectively.
Kogan.com Ltd (ASX: KGN)
The independent non-executive chairman of this ecommerce company has been adding to his position following a sharp share price decline in recent weeks. According to the change of director's interest notice, Greg Ridder bought 5,500 shares on March 5 and 5,000 shares on March 9. He paid a total of $45,063.48, which equates to approximately $4.29 per share. This lifted Mr Ridder's holding to a total of 171,000 shares.
Mayne Pharma Group Ltd (ASX: MYX)
One of this struggling pharmaceutical company's non-executive directors has been buying a considerable number of shares through a series of on-market trades over the last seven days. According to the notice, Bruce Mathieson picked up a total of 3,112,726 shares between March 4 and March 11. Mr Mathieson paid a total of $982,335.64 for the shares, which equates to an average of ~31.6 cents per share. These purchases lifted his overall holding to a sizeable 105,577,583 shares.
