It can be useful for investors to keep an eye on which shares have experienced meaningful insider buying.
This is because insider buying is often considered as a bullish indicator, as few people know a company and its intrinsic value better than its own directors. If they are buying, it could be a sign that they are confident in the direction the company is heading and see value in its shares.
With that in mind, listed below are a few ASX 200 shares that have reported insiders buying recently. They are as follows:
Qantas Airways Limited (ASX:QAN)
The first ASX 200 share to report meaningful insider buying is Qantas. According to a change of director’s interest notice, one of the airline operator’s non-executive directors was buying shares last week.
The release reveals that Dr Heather Joy Smith picked up her first shares since joining the company last year. Dr Smith bought 10,000 shares through an on-market trade on 18 April.
The director paid an average of $5.7299 per share, which equates to a total consideration of $57,299.
A change of director’s interest notice reveals that non-executive director Karen Penrose has been buying this plumbing parts company’s shares.
Penrose picked up 1,110 shares through an on-market trade on April 16. The director paid an average of $26.90 per share, which represents a total consideration of $29,859.
This purchase lifts Penrose’s holding in the company to a total of 5,884 shares.
Tabcorp Holdings Ltd (ASX:TAH)
Another ASX 200 share that has reported meaningful insider buying is gambling company Tabcorp.
A change of director’s interest notice reveals that non-executive director, Raelene Murphy, bought a total of 65,000 Tabcorp shares through an on-market trade on 16 April.
The release reveals that Murphy paid an average of 72.5 cents per share. This represents a total consideration of $47,125.
Following the purchase, the non-executive director has seen their holdings in the company increase to 195,000 units.
Washington H Soul Pattinson & Company Ltd (ASX: SOL)
Another change of director’s interest shows that one of this investment house’s directors made a very large investment in its shares last week.
The notice reveals that the company’s non-executive director, Josephine Sukkar AM, bought 15,034 units of this ASX 200 share for a total consideration of $500,782.54 on 18 April. This equates to an average purchase price of $33.31 per share.
Sukkar’s holding has now lifted to 16,607 Soul Patts shares following last week’s purchase.
