4 ASX All Ords shares insiders have been buying up in January

These insiders are putting money where their mouths are.

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Key points

  • ASX investors love seeing company insiders buying shares
  • It indicates that management is bullish on the company's future
  • So here are four ASX shares that have seen recent insider buying 

ASX investors love to see the insiders of companies they have shares in putting their money where their mouths are and buying shares of the businesses they are running. After all, the ultimate job of a company insider is to lead their company to prosperity. And long-term prosperity usually means higher share prices over time. 

So let's look at four ASX All Ords shares that insiders have been buying up this January.

4 ASX All Ords shares that insiders have been buying up in 2023

Liontown Resources Ltd (ASX: LTR)

First up today is ASX lithium share Liontown Resources. As we covered a few days ago, Liontown chair Tim Goyder made a big investment in the company he runs earlier this month.

Goyder picked up a cool million shares at a cost of $1.5 million back on 20 January. The shares traded in a range of $1.375 and $1.465 on that day. This indicates that Goyder is sitting on a tidy profit today, given the shares are currently going for $1.64 at the time of writing.

New Hope Corporation Limited (ASX: NHC)

ASX coal miner New Hope is next up. This energy share has had one of the best runs on the All Ords over the past year or so, up more than 160% since January 2022. One insider thanking their lucky stars would be non-executive director, Jacqueline McGill.

McGill bought more than 10,000 shares of the company back on 6 January for $5.88 each, costing the director almost $59,000. This comes after McGill also bought 20,000 shares back in June last year for $3.66 each.

Today New Hope is asking $5.98 a share, meaning McGill would be a very happy camper indeed.

Andromeda Metals Ltd (ASX: ADN)

Our third ASX All Ords share worth taking a look at is the copper and gold explorer Andromeda Metals. More than one Andromeda insider has been putting money where their mouths are this month. Firstly, independent non-executive chair Michael Wilkes. Wilkes acquired 1.06 million new shares in Andromeda over 10-11 January, costing the director close to $53,000. This implies a buy price of around 5 cents per share.

But we also had managing director James Marsh pick up just over 1.9 million new shares over 13-16 January. This transaction was worth around $110,000, implying a buy price of just over 5.8 cents per share.

Andromeda non-executive director Melissa Holzberger didn't want to miss out either. Holzberger netted another 384,615 shares on 16 January, for a cost of $24,615. That implies a cost per share of 6.2 cents.

So on today's current Andromeda Metals share price of 5.6 cents per share, Wilkes would certainly be doing the best out of all of these recent insider purchases.

Race Oncology Ltd (ASX: RAC)

Finally today, we have ASX All Ords healthcare share Race Oncology. As we covered earlier this month, executive director and chief science officer Dr Daniel Tillett spent January buying up shares in the company. Tillett bought an additional 25,550 shares in Race over 11-13 January, at a total cost of $50,223.

That implies an average purchase price of $1.966 per share. In the days after this buy, Race shares went as high as $2.07, but the company is trading at $1.95 per share today.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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