Whilst clearly there is more selling going on than buying this week, it’s nice to see that directors from many ASX companies are overlooking this short term volatility and looking at the bigger long-term picture.
Three top ASX shares that have reported meaningful insider buying this week are listed below. Here’s what you need to know:
Accent Group Ltd (ASX: AX1)
According to a change of director’s interest notice, the chief executive officer of this footwear-focused retail group has been adding to his position this week. The notice reveals Daniel Agostinelli picked up a total of 100,000 shares through on-market trades between March 10 and March 12. Mr Agostinelli paid a total of $117,841.04 for the shares, which works out to be an average of $1.18 per share. These purchases have increased the chief executive’s holding to a total of 20,142,315 shares.
Myer Holdings Ltd (ASX: MYR)
Another director that has been buying shares is Garry Hounsell. This department store operator’s chairman has taken advantage of its recent share price weakness to increase his position by almost a third. A change of director’s interest notice reveals that Mr Hounsell picked up 400,000 shares through an on-market trade on March 12. He paid a total of $99,000 for the shares, which works out to be an average of 24.75 cents per share. The chairman now owns 1.4 million Myer shares.
Ramsay Health Care Limited (ASX: RHC)
A change of director’s interest notice reveals that this private hospital operator’s newest non-executive director has bought shares on-market this week. According to the notice, Karen Penrose picked up her first 725 shares on March 11 for an average of $63.63 per share. This works out to be a total consideration of $46,131.75. Penrose joined the company on March 1 following the release of its half year results.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group and Ramsay Health Care 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.
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