When investing in ASX shares it can sometimes be helpful to make a note of which companies have experienced recent insider buying.
The reason is, there aren’t too many people who would likely have a better understanding of the company’s value than those on the board. Therefore, it is considered a vote of confidence when an insider buys shares in the company they are a part of.
Let’s take a look at a handful of ASX shares with recent insider buying.
4 ASX shares execs have been loading up on
Codan Limited (ASX: CDA)
Shares in the communications equipment and metal detector manufacturer have struggled to put a foot in a positive direction since June 2021. Since then, the Codan share price has fallen 54% to its current level of $8.78.
It appears investors are treading cautiously and giving the company some time to digest its two acquisitions carried out in the first half of last year. The combined outlay for the acquisitions of Zetron and Domo Tactical Communications totalled $173 million.
However, this hasn’t stopped non-executive director Graeme Rodger Barclay from loading up last month. According to the notice, Barclay acquired 5,162 shares at a price of $9.71. This equates to an investment worth $50,102 at the time.
Life360 Inc (ASX: 360)
The next ASX share making the list is the family safety service company, Life360. Shareholders have been rewarded for holding onto this share over the last year, with its price rising 137%. However, since mid-November, the Life360 share price has fallen 37%.
In November, Life360 announced its plans to acquire the “leading platform for finding things” Tile for a smooth $280 million. Though, the market’s sentiment towards the company has waned — possibly waiting for a positive indicator before making further moves.
For board member James Synge, there was no need for further indication on 7 December 2021. Making the biggest investment on our list, the SEEK Limited (ASX: SEK) founder nabbed himself 50,000 shares worth $518,800.
Collins Food Ltd (ASX: CKF)
One exec on the board of Collins Foods must have thought the share price was finger-licking good in December. Despite the Australian KFC and Taco Bell franchisee being not too far off all-time highs, Mark Hawthorne of Collins Foods had a nibble.
Investors have been hungry for more shares in this restaurant operator recently. This follows the release of its half-year results, showing a 31.6% increase in underlying net profits of $28.9 million.
According to the notice, Hawthorne helped himself to 3,000 shares in Collins Foods at a total value of $39,899.
Harvey Norman Holdings Limited (ASX: HVN)
Finally, the last ASX share on our list with recent insider buying is retailing giant Harvey Norman. Once again, this company — like others in this article — has been placed in the undesired basket by investors recently. Since August, shares in Harvey Norman have slipped 11%.
The weakness in this Aussie retailer began around the time it released its FY21 results to the market. Despite growing comparable sales by ~14% and delivering a bumper profit, investors showed discontent towards this ASX share.
Co-founder Gerry Harvey has taken the opportunity to load up on some more shares. On 2 December, Harvey acquired 47,810 shares for a total value of $236,658.