There’s been plenty of insider buying going on among ASX shares lately, and many of the targets are trading at, or around, 52-week lows.
That suggests those in the know believe their company is trading at attractive prices. So much so, that they’ll throw their hard-earned cash into the stocks.
Indeed, one S&P/ASX 200 Index (ASX: XJO) company has seen six directors buy its shares over the last fortnight.
Let’s take a look at the 52-week lows apparently tempting ASX directors to buy into ASX shares lately.
5 ASX insiders buying shares at near 52-week lows
We can’t talk about recent insider buying without mentioning Reliance Worldwide Corporation Ltd (ASX: RWC). The ASX 200 industrial share hit a new 52-week low of $2.96 on Tuesday.
Most of the company’s board has been bolstering their holding in the company lately, with six of its directors forking out an approximate total of $385,000 for 123,250 shares. That saw them paying an average of around $3.12 per share.
The largest parcel was snapped up by chair Stuart Crosby, who bought 31,250 shares for $99,389.65 on 28 October.
Directors Sharon McCrohan, Darlene Knight, Christine Bartlett, Brad Soller, and Russell Chenu have also made recent purchases.
Meanwhile, Bega Cheese Ltd (ASX: BGA) deputy chair Peter Margin has taken a slice of the ASX 200 dairy favourite’s shares. Margin bought 10,786 shares for $35,162.36 in late October, paying around $3.17 apiece.
The Bega share price hit a 52-week low of $3.12 on 21 October. It has since recovered 3.5% to trade at $3.23 today.
Shares in All Ordinaries Index (ASX: XAO) biotechnology company Starpharma Holdings Limited (ASX: SPL) are also both the subject of recent insider buying and trading near 52-week lows today. The stock hit its lowest point since 2015 earlier this week, falling to 49 cents.
Two of the company’s leaders, chair Rob Thomas and CEO and director Dr Jackie Fairley, snapped up 50,000 shares, worth a combined $52,000, in the company in late October.
Thomas got the better deal, buying each share for 52 cents while Fairley paid 52.8 cents apiece.
The share price of All Ords construction materials and services company Wagners Holding Company Ltd (ASX: WGN) also hit a multi-year low earlier this week when it slumped to 73 cents.
But the company’s chair and co-founder Denis Wagner seems to think the recent downturn has presented a buying opportunity. He bought 61,669 shares in the company in late October, paying nearly $50,000, or around 80 cents apiece.
The final ASX insider buying target trading at around 52-week lows is gold miner Red 5 Limited (ASX: RED). The stock hit a 52-week low of 15 cents in late October. It has since recovered to trade at 17.5 cents.
The company’s managing director Mark Williams and director Ian MacPherson both recently bolstered their stake in the company. They did so through a share purchase plan, which offered shares for 16 cents apiece.
