I tend to believe that no one knows the inner workings of a company better than the people who are in it. For that reason, it is interesting to take note from time to time of which ASX shares are being bought, and sold for that matter, by company insiders.
Insider buying can be perceived as a vote of confidence in the company. It doesn't, however, mean that the shares are an obvious buy: The future is unpredictable, no matter who you are. A company outlook can be bright one day and gloomy the next. But insider buying and selling information can be used in conjunction with other resources to build your own notion about a particular company.
On that note, here are some ASX shares that have seen insider buying over the last few months.
3 ASX shares being bought by insiders
Nick Scali Limited (ASX: NCK)
The furniture retailer shows a purchase of shares on 2 November by non-executive director William Koeck. Based on the available information, Mr Koeck acquired 5,900 shares at a price of $8.36, totaling $49,324.
As it turned out, the Nick Scali share price dipped to $7.97 on 10 November, before rallying to the current price of $10.51 at the time of writing.
Nick Scali shares have returned 54.12% over the last 12 months.
Tassal Group Limited (ASX: TGR)
The Tasmanian salmon and prawn producer released several 'change of directors' interest' notices during December. These pertained to three instances where the non-executive director, John Watson, purchased shares in the group.
Mr Watson purchased 30,000 Tassal shares, for a combined considered value of $103,171, across the three transactions. The price paid for these shares ranged between $3.32 and $3.51. Shares in Tassal Group are $3.39 at the time of writing.
The Tassal share price has fallen 19.86% over the last 12 months.
Superloop Ltd (ASX: SLC)
Telecommunications infrastructure small-cap Superloop updated the market on 21 October regarding an insider transaction. The founder and former CEO, now non-executive chairman, Bevan Slattery acquired a further 308,385 shares at 89 cents per share. The current Superloop share price now sits at $1.07.
The recent transaction takes Mr Slattery's stake in the company to 17.58% of shares on offer.
Superloop shares have returned 16.3% over the last 12 months.
