When directors of S&P/ASX 200 (ASX: XJO) companies spend their own money buying more shares, it's generally a clear sign of confidence in the future.
They're not investing their own money for fun.
Some directors pour in millions, so you better believe they expect the share price to increase.
Let's investigate a couple of the latest company director purchases of ASX 200 shares.
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Aurizon Holdings Ltd (ASX: AZJ)
Chair and independent non-executive director Tim Poole bought 70,000 Aurizon shares this week.
The shares were purchased through an investment trust on-market for a total of $228,100.
This increased Poole's personal interests in the company by 39%.
Maybe he was inspired by the three new substantial holders that Aurizon attracted last week.
A substantial holder is any shareholder, company, or investment group with a 5% or higher stake.
Late last month, Wilsons equities strategist Rob Crookston said Aurizon was an appealing takeover target.
Crookston said:
Infrastructure asset, monopoly, relatively steady (high) cash flows. Might benefit from being taken private from an ESG perspective.
Morgans has an add rating on Aurizon with a 12-month share price target of $3.81.
The Aurizon share price is up 0.30% on Friday at $3.31 at the time of writing.
Bega Cheese Ltd (ASX: BGA)
Bega's deputy chair and independent director, Peter Margin bought 10,926 Bega shares this week.
The ASX 200 shares were purchased through his superannuation fund on-market for almost $35,000.
This trade represented a 43% increase in his stake in the diversified food and drinks group.
Morgans recently upgraded its rating on Bega to add, with a boosted share price target of $4.05.
The Bega share price is up 0.15% on Friday at $3.27 at the time of writing.
Other big director buy-ups of ASX 200 shares
This month, we have a few other examples of ASX 200 company directors buying more shares.
Earlier this week, we revealed that Lawrence Myers, a non-executive director of ASX 200 kitchen appliance manufacturer Breville Group Ltd (ASX: BRG), has bought almost $600,000 worth of extra shares.
And household name Gerry Harvey, chair of ASX 200 furniture giant Harvey Norman Holdings Limited (ASX: HVN) dropped $8 million on extra shares after the market reacted poorly to the company's 1H FY23 results.
