These ASX insiders are buying up more shares in their companies

Gotcha! Here are some of the ASX executives who have been increasing investment in their own companies.

| More on:
ANZ ASX 200 banks capital return Group of investors madly grabbing for cash on city street.

Image source: Getting Images

It’s an interesting exercise to review which ASX shares are being purchased by their own directors, board members and other inside staff. Those that are managing the company should theoretically have the most information available to inform their investment.

While ASX-listed companies must disclose any price-sensitive information to the market, one edge that insiders have is that they’re exposed to the company’s daily operations. This means that, unless you’re an employee of the company as well, you probably won’t have the same level of operational understanding.

For that reason, let’s take a glimpse into some insiders who have been buying up ASX shares in their own companies recently.

ASX shares with insider buying interest

In the pursuit of presenting the most current and relevant information, the following ASX share purchases occurred no later than 25 May 2021. As you’ll see from the list below, there’s quite a diverse assortment of companies that have been attracting insider buying.

Company Market Capitalisation Value of shares purchased Date of purchase
Northern Star Resources Ltd (ASX: NST) $12.81 billion $24,973 25 May 2021
AMP Ltd (ASX: AMP) $4.14 billion $100,000 01 June 2021
Whitehaven Coal Ltd (ASX: WHC) $2.10 billion $589,750 04 June 2021
Centuria Capital Group (ASX: CNI) $1.64 billion $3,367,456 25 May 2021
Sandfire Resources Ltd (ASX: SFR) $1.30 billion $24,942 25 May 2021
Jumbo Interactive Ltd (ASX: JIN) $920.8 million $35,025 26 May 2021

Riding the resource boom

The largest ASX-listed company on the list, Northern Star Resources, has been benefitting from a resurgence in the price of gold since early April. The precious commodity has appreciated by around 12% in the last couple of months. Northern Star’s performance is closely linked to that of gold, demonstrated by its approximate 16% share price lift since the start of April. Board member Sally Langer added $24,973 worth of shares on 25 May.

The second-largest insider buy on the list involves Whitehaven Coal director Raymond Zage. Sparing no expense, Zage dished out over half a million dollars for 350,000 shares. The ASX-listed coal mining share has set new 52-highs recently, as coal prices gallop higher on increased demand and tight supply.

Sandfire Resources is another resource company enjoying the resource boom. With Copper prices recently hitting all-time highs, the Sandfire share price has enjoyed a 52% rally over the last year. However, it appears Sally Langer is happy to buy at current prices – adding $24,982 worth of shares on 25 May.

Other ASX shares getting attention

Next on the list is financial services company AMP. Interestingly, chair Debra Hazelton picked up $100,000 worth of AMP shares 5 days after the company was hit with civil proceedings brought by ASIC in the Federal Court. Today, the company announced a new CEO of the AMP Capital division.

By far the biggest insider buy on our list, CEO of Centuria Capital Jason Huljich grabbed over $3 million worth of shares in the real estate company. Today the company announced its takeover of Primewest Group Ltd (ASX: PWG) has gone unconditional.

Lastly, Jumbo Interactive chair Susan Forrester added $35,025 to her holdings. According to a note out of Goldman Sachs, its analysts have downgraded the online lottery company’s shares to a neutral rating from buy. The broker has, however, held firm with its $15.00 price target. Jumbo is the smallest ASX share on the list by market capitalisation, at $920 million.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Motley Fool contributor Mitchell Lawler owns shares of Jumbo Interactive Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Jumbo Interactive Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on ⏸️ ASX Shares