Whenever a director, CEO, or insider buys stock in their own ASX 300 company, it is certainly a newsworthy event. After all, most ASX 300 investors like to see management have significant skin in the game when it comes to their own companies.
As such, investors typically love it when these insiders buy up shares in their own company, and hate it when those insiders are selling.
But today, let's focus on the former scenario and talk about five ASX 300 shares that have seen insiders buying up in the past week.
Insider buying: 5 ASX 300 directors buying up their company shares in the past week
Estia Health Ltd (ASX: EHE)
Aged care company Estia is first up today. On 24 August, we learnt that Estia CEO Sean Bilton acquired approximately 343,000 new shares in Estia Health.
However, these were not acquired via an on-market buy, but through the vesting of various performance rights that Bilton has been awarded. Bilton now owns just over 527,000 shares in Estia.
This company is up a whopping 42% in 2023 to date.
Reliance Worldwide Corporation Ltd (ASX: RWC)
ASX 300 plumbing supplies share Reliance is next up. On 25 August last week, we learnt that non-executive director Brad Soller picked up an additional 10,000 Reliance shares to add to his existing holding of 15,000 shares.
These shares were acquired on market with Soller forking out just over $10,000 for this tranche. That's despite the Reliance share price gaining more than 37% over 2023 thus far.
AUB Group Ltd (ASX: AUB)
Our next cab off the rank is ASX 300 share and insurance broker AUB Group. On 24 August, non-executive director Richard Deutsch doubled his stake in AUB Group by picking up 1,000 shares on market for a sum of $30,150. That implies a purchase price of $30.15 a share, and brings Deutsch's total holdings to 2,000 shares.
The AUB Group share price is now up by just over 36% in the year to date.
Nine Entertainment Co Holdings Ltd (ASX: NEC)
Now, let's talk about ASX 300 media company Nine. ASX filings show that on 25 August (the day after the company released its 2023 earnings report), CEO Mike Sneesby acquired an additional 258,427 shares, bringing his total to just under 566,000 shares.
As with Estia's CEO though, these shares were acquired via the exercise of performance rights, and not through an open-market trade.
The Nine share price is now up 11.3% in 2023 so far.
Tabcorp Holdings Ltd (ASX: TAH)
Finally, let's dive into ASX 300 gaming share Tabcorp. We have a two-for-the-price-of-one special to talk about with this one. On 28 and 29 August respectively, chair Bruce Akhurst and CEO Adam Rytenskild both acquired new Tabcorp shares.
Akhurst acquired an additional 100,000 Tabcorp shares on 28 August. These shares were bought on market and were acquired for an average price of $1.0375 each. That brings his total holdings to 1.3 million shares (held indirectly).
Meanwhile, Rytenskild's trade came one day later and also saw the CEO pick up an extra 100,000 shares on market for an average price of $1.01. That brings Rytenskild's total holdings to just under 3.2 million (held directly and indirectly).
The Tabcorp share price has fallen by 3.9% over the year so far.
