Insiders have been buying InvoCare and 2 other ASX shares this week

Insiders have been buying InvoCare Limited (ASX:IVC) shares and two other ASX shares this week…

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Once a 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 intrinsic value better than its own directors.

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

Helloworld Travel Ltd (ASX: HLO)

According to a change of director's interest notice, the chairman of this integrated travel company has taken advantage of recent share price weakness to top up his holding. The notice reveals that Chairman Garry Hounsell picked up a total of 30,000 Helloworld shares through on market trades on April 4 and April 5. Mr Hounsell paid a total of $122,466.10 for the shares, which equates to a price of approximately $4.08 per share. This brought the chairman's holding up to a total of 138,500 shares. The Helloworld share price has lost 36% of its value since peaking at a 52-week high of $6.45 in September and are trading at a level that its chairman seems to believe is attractive.

InvoCare Limited (ASX: IVC)

A change of director's interest notice reveals that one of this funeral company's independent non-executive directors has snapped up shares on market recently. According to the notice, Jackie McArthur bought 2,000 shares on-market on April 4 at an average of $14.45 per share. Although the InvoCare share price has been on fire in 2019, it appears as though this director believes its shares can still go higher from here. The InvoCare share price is up 43% in 2019 after rebounding strongly from a heavy decline in 2018 caused by tough trading conditions.

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

A change of director's interest notice reveals that the chairman of this investment house, Mr Robert D Millner, has dipped into the market again to top up his considerable holding. According to the notice, Mr Millner has bought a further 60,000 shares for a total consideration of $1,516,008. This equates to an average price of approximately $25.26 per share and has brought the chairman's holding up to 267,152 shares (direct) and 19,307,941 shares (indirect). Mr Millner appears to believe the 19% decline by the WHSP share price over the last 30 days is a buying opportunity.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Helloworld Limited. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended InvoCare Limited. 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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