The ASX reporting season is looming and insiders of some top-performing companies are showing confidence by buying shares ahead of the release.
Insiders are lucky enough to be privy to the intricacies of a company’s operations on a daily basis. That’s why when insiders buy or sell shares, investors usually pay close attention. Any recent transactions are particularly interesting as we enter the August reporting season.
Here’s a look at three ASX shares that have seen insider purchases in the past month or so.
Insiders are buying these ASX shares
Jumbo Interactive Ltd (ASX: JIN)
Online lottery operator Jumbo released a change of directors’ interest notice in the middle of July. Based on the supplied information, CEO and founder Mike Veverka gobbled up 10.050 shares worth nearly $166,000.
With the company set to report on 26 August, Veverka might be anticipating a positive reaction to its latest results.
Rural Funds Group (ASX: RFF)
Agricultural-focused Real Estate Investment Trust Rural Funds Group reported a handful of change of directors’ interest notices towards the end of July. These included the Chairman of the board Guy Paynter, CEO David Bryant, and independent non-executive director Michael Carrol.
Between the three of them, more than 416,000 shares were purchased. In dollar terms, we’re looking at approximately $1.027 million worth of shares in this ASX-listed company. Perhaps management thinks there’s more gas in the tank despite the share price already gaining 26.5% in the past year.
Rural Funds Group is expected to report its full-year earnings on 23 August.
Carsales.Com Ltd (ASX: CAR)
Last on the list is the online automotive classifieds company, Carsales. According to a change of directors’ interest notice, non-executive director David Wiadrowski purchased 2,191 shares for $42,289 on 18 June 2021.
Interestingly, things have been fairly quiet over at Carsales since it completed its US$624 million capital raise to acquire US-based Trader Interactive. However, the uneventfulness will soon end for this ASX share with its full-year results earmarked for release on 16 August.
The Carsales share price has rewarded investors with a 20% return over the past 12 months. As a result, the company now boasts a market capitalisation of $6.21 billion.