Once a week I like to take a look to see 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.
A number of shares have reported meaningful insider buying this week. Here are a couple which have caught my eye:
Dicker Data Ltd (ASX: DDR)
According to a change of director’s interest notice, this distributor of computer software and hardware has experienced more insider buying this month. The company’s Chief Operating Officer and Executive Director, Vladimir Mitnovetski, has added to his considerable holding. Mr Mitnovetski picked up 5,000 shares through an on-market trade on May 27. The director paid an average of $7.40 per share, which equates to a total consideration of $37,000.
Mr Mitnovetski has made several purchases over the last 12 months and now owns a total of 831,961 Dicker Data shares.This has proven to be an astute move. The company’s shares have rallied over 50% higher since this time last year. And judging by his latest purchase of shares, this director sees further gains ahead.
TechnologyOne Ltd (ASX: TNE)
The directors of this enterprise software company have been busy buying and selling its shares this month. Masterbah Pty Ltd, of which Non-Executive Director John Mactaggart and Chairman Adrian Di Marco have a beneficial interest in, offloaded 4 million shares for a total of $36.8 million through an on-market trade on May 26. Fellow Non-Executive Director Ronald McLean sold 41,263 shares for $394,450.06 the same day through an on-market trade.
However, one director was still buying. The following day Peter Ball picked up 5,000 shares for a total of $47,715.36. This director appears to believe TechnologyOne’s shares are in the buy zone following a pullback after the release of its full year results.
And here are more shares which I wouldn’t be surprised if insiders are buying. Especially given how cheap they look…
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More reading
- Build wealth for life with these 2 ASX 200 shares
- 3 top ASX dividend shares to buy in June
- ASX 200 up 1.7%: Flight Centre and Webjet rocket, Afterpay hits record high
- Why Leigh Creek, Lynas, Monadelphous, & TechnologyOne are dropping lower
- Top brokers name 3 ASX shares to sell next week
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data 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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