4 ASX 300 directors buying up their company shares in the past week

When it comes to investing in ASX 300 shares, investors like to know the people actually running the companies are investing too. If insiders, directors, and CEOs are buying their own companies’ shares, it gives investors confidence that they have skin in the game, and that their interests are aligned with those of shareholders.

Conversely, investors don’t like to see insiders selling shares, for the opposite reasons.

So today, let’s discuss four ASX 300 shares that have seen some insider buying over the past week.

4 ASX 300 shares that insiders are buying right now

Mayne Pharma Group Ltd (ASX: MYX)

First up is Mayne Pharma. This ASX 300 pharmaceuticals share has seen its own chair, Frank Condella Jr, pick up shares in Mayne Pharma over the past week.

An ASX notice tells us that Condella bought two tranches of Mayne shares on 24 and 27 March. Condella owned 37,777 shares prior to last week, but he now owns 58,775 shares. Mayne Pharma shares remain down 11% in 2023 to date.

Siteminder Ltd (ASX: SDR)

ASX 300 tech share Siteminder is next up for consideration. It seems something was in the water late last week because non-executive director Les Szekely was also buying up his own company’s shares.

ASX data reveals that Szekely picked up another 50,000 shares in an on-market trade for $3 each on 23 March. That increases the director’s holdings in Siteminder from 15.38 million to 15.43 million shares. Siteminder shares are up nearly 6% in 2023 so far.

Metcash Limited (ASX: MTS)

ASX 300 share and IGA operator Metcash is our next share to check out.  According to a notice to shareholders, Metcash non-executive director Christine Holman has increased her shareholding by 25,000 shares to a new total of 55,000 shares.

Holman made this latest on-market acquisition on 24 March, for an average purchase price of $3.78 per share. The Metcash share price has risen by 1.16% over the year so far.

Harvey Norman Holdings Limited (ASX: HVN)

Finally, let’s take a glance at ASX 300 retailing stalwart Harvey Norman. And this time, it’s the CEO and co-founder Gerry Harvey that we get to discuss. Harvey’s latest buy occurred on 22 March and was indirect in nature, with the shares going to a trust owned by the CEO. It was for an additional 267,000 shares.

As my Fool colleague Brooke comprehensively covered this morning, Harvey has been on a massive buying spree of his own company of late. He has bought around 1.5 million shares over the past week or so, and now holds approximately 421 million shares, worth roughly $1.5 billion.

 

The post 4 ASX 300 directors buying up their company shares in the past week appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Harvey Norman and SiteMinder. The Motley Fool Australia has positions in and has recommended Harvey Norman. The Motley Fool Australia has recommended Metcash. 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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