This week I've been looking at which ASX shares have experienced meaningful insider buying. (You can read about the first two shares here.)
Listed below are two more ASX shares that have reported insider buying this month. Here's what you need to know about these transactions:
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Collins Foods Ltd (ASX: CKF)
A change of director's interest notice reveals that this KFC-focused quick service restaurant operator's new board member has been quick to buy shares. According to the notice, less than a week after joining the company on 23 December, independent non-executive director Mark Hawthorne picked up 3,000 shares through an on-market trade. He paid a total consideration of $39,899.44, which equates to an average of $13.30 per share.
Mr Hawthorne joined the company last week and brings more than 25 years of retail and franchising experience with him. He was most recently the CEO and Executive Director of Guzman y Gomez and has previously led McDonalds in a number of markets including the United Kingdom, New Zealand, and the Middle East and Africa.
G8 Education Ltd (ASX: GEM)
A number of directors have taken advantage of the underperformance in the G8 Education share price this year to add to their holdings. A total of three change of director's interest notices have been filed this month since the release of the company's trading update.
This includes the childcare operator's managing director and CEO, David Foster. He picked up 13,866 shares for a total consideration of $14,831.07 on Christmas Eve. This increased the CEO's holding to a total of 78,763 shares.
Also buying shares were independent non-executive directors Debra Singh and Toni Thornton. Singh bought 50,000 shares through an on-market trade the same day for $52,993.75, whereas Thornton picked up 23,150 shares for $25,002 on 29 December.
Judging by the purchases, these directors appear confident the company is heading in the right direction once again.
