Insiders have been buying these ASX shares this week

Insiders have been buying Coles Group Ltd (ASX:COL) shares and two others this week. Here's what you need to know…

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At the end of each week I like to look at 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 true value better than its own directors.

Three shares which have reported meaningful insider buying this week are listed below:

Ainsworth Game Technology Limited (ASX: AGI)

According to a change of director's interest notice, the chief executive officer of this gaming technology company has been buying shares after its sharp share price decline. The notice reveals that Daniel Gladstone picked up 50,000 shares for a total consideration of $39,500 though an on-market trade. This lifted Mr Gladstone's total holding to 134,765 shares. Ainsworth Game Technology's shares have fallen over 65% since the start of the year.

Coles Group Ltd (ASX: COL)

One of this supermarket giant's independent non-executive directors has been buying shares on-market following its demerger. A change of director's interest notice reveals that Zlatko Todorcevski picked up 8,000 shares in the supermarket giant for an average price of $12.50 per share or a total consideration of $100,000. Unfortunately for this director, the Coles share price has fallen 4.5% since this purchase following a series of mixed broker notes. In addition to this, concerns over competition from Amazon is weighing on its shares today.

Sydney Airport Holdings Pty Ltd (ASX: SYD)

A change of director's interest notice reveals that one of this airport operator's non-executive directors has been buying shares on-market this week. According to the release, Abigail Cleland picked up a total of 15,000 shares for an average price of $6.79 per share or a total consideration of $101,850. I think it could be worth following the lead of Cleland by picking up some of Sydney Airport's shares. Due to the tourism boom that Australia is experiencing, I think it is well-positioned to grow at a decent rate over the coming years.

But not as quickly as the five shares below which could be even better than Sydney Airport.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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