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…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

More on Share Market News

Person handing out $50 notes, symbolising ex-dividend date.
Broker Notes

Where to invest $20,000 into ASX 200 shares

Brokers think these shares could be top picks for Aussie investors.

Read more »

The words short selling in red against a black background
Share Market News

These are the 10 most shorted ASX shares

Let's see which shares short sellers are targeting this week.

Read more »

Woman in celebratory fist move looking at phone
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A female financial services professional with a manicured black afro hairstyle turns an ipad screen to show a client across the table a set of ASX shares figures in graph format.
Share Market News

Record CBA share price and blockbuster merger push ASX 200 financials sector to the top

ASX financial stocks led the 11 market sectors last week with a 1.95% gain.

Read more »

A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today
Share Market News

CBA Shares in focus: How Australia's most valuable company is using AI to compete

Could AI initiatives drive CBA shares higher?

Read more »

Man jumps for joy in front of a background of a rising stocks graphic.
Broker Notes

These ASX 200 shares could rise 20% to 50%

Looking for big returns? Brokers think these shares could do the job.

Read more »

asx share price represented by cartoon letters spelling the word FOMO
Share Market News

What did Macquarie's "FOMO Meter" reveal about the stock market in May?

Is the market getting frothy or is there still room to climb?

Read more »

Market up or down
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough end to the week...

Read more »