3 ASX shares insiders are buying ahead of reporting season

Insiders are loading up on these ASX shares heading into reporting season…

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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.

The Jumbo share price has been ascending since the COVID-19 crash in 2020. On 24 June 2021, the company set a new 52-week high of $18.56.

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.

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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 and RURALFUNDS STAPLED. The Motley Fool Australia has recommended carsales.com Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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