This year has been turbulent for the Bega Cheese Ltd (ASX: BGA) share price, to say the least. But insiders appear to believe things could improve for the S&P/ASX 200 Index (ASX: XJO) consumer staples stock.
Right now, the Bega Cheese share price is $3.34. That's 40% lower than it was at the start of 2022. For comparison, the ASX 200 has dropped 4% year to date.
The tumble might have put the stock in the buy zone, though. At least, that appears to be the belief of two of the company's directors.
They've snapped up a total of $30,000 worth of Bega Cheese shares on-market in recent days.
Let's take a look at the insider buying going down at the producer of dairy and food products.
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Embattled ASX 200 share Bega Cheese gets insider love
The Bega Cheese share price has taken a tumble, and some of its directors have taken advantage.
Two directors – Terry O'Brien and Harper Kilpatrick – have bolstered their holdings in the company this week.
The buying went down on Monday.
Then, Kilpatrick snapped up 7,000 Bega shares on-market for $23,540. That equates to around $3.36 apiece.
Meanwhile, O'Brien bought 2,000 stocks in the ASX 200 company, paying a total of $6,759.55. That equals around $3.38 apiece.
Following their latest buys, Kilpatrick holds around 30,000 Bega Cheese stocks and O'Brien boasts approximately 26,700.
Interestingly, it's been less than a month since the company revealed its deputy chair Peter Margin purchased 10,786 Bega Cheese shares for $35,162.36.
That was the best buy of the lot, with each stock being snapped up for around $3.17.
That's just 5 cents off the Bega Cheese share price's nine-year low of $3.12 reached on 21 October. Fortunately, the stock has since recovered 8%.
