Here are 4 ASX shares insiders are putting their money behind

Here’s what insiders have been buying…

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It can be useful for investors to keep an eye on which shares have experienced meaningful insider buying.

This is because insider buying is often regarded as a bullish indicator, as few people know a company and its intrinsic value better than its own directors. If they are buying, it suggests that they are confident in the direction the company is heading.

With that in mind, listed below are a few ASX shares that have reported meaningful insider buying recently. They are as follows:

Bega Cheese Ltd (ASX: BGA)

A change of director’s interest notice reveals that the Chairman of this diversified food company has taken advantage of recent weakness in the Bega share price to top up his holding. Executive Chairman, Barry Irvin AM, has picked up 10,000 shares for $46,358.13 through an on-market trade on 2 March. This increased Mr Irvin’s holding to a total of just over 2 million shares. The Bega share price dropped to a 52-week low on Wednesday.

City Chic Collective Ltd (ASX: CCX)

No less than four of this plus-sized fashion retailer’s directors have been loading up on shares following a sharp pullback in the City Chic share price. Its shares came crashing down to earth last month following the release of a disappointing half year result. Based on these on-market purchases, which range from parcels worth $38,000 to $192,000, City Chic’s directors appear confident that the company will bounce back strongly.

Harvey Norman Holdings Limited (ASX: HVN)

Harvey Norman’s co-founder and Chairman, Gerry Harvey, has been buying this retailer’s shares. Mr Harvey picked up approximately 651,000 shares for a consideration $3.365 million via an on-market trade on 28 February. Goldman Sachs would approve of this purchase. Last week the broker retained its buy rating and $6.00 price target on the retail giant’s shares.

Temple & Webster Group Ltd (ASX: TPW)

Another change of director’s interest notice reveals that its co-founder and non-executive director, Conrad Yiu, has been buying shares. Mr Yiu picked up 20,915 shares through a series of on-market trades between 22 to 25 February. This came at the cost of just under $150,000. With the online furniture retailer’s shares down by almost 50% over the last six months, it appears as though this director believes it has created a buying opportunity.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Temple & Webster Group Ltd. The Motley Fool Australia owns and has recommended Harvey Norman Holdings Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. 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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