3 cheap ASX shares being bought by insiders

MotleyFool10-08

Here at the Motley Fool, we like to keep abreast of the ASX shares, cheap or not, that see insiders either buy up or sell down their stakes in the companies they are (usually handsomely) paid to run. ...

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","collect":0,"end_time":0,"defaultTopTitle":"fool.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7078":"赌场与赌博","BET.AU":"BETMAKERS TECHNOLOGY GROUP L","BK7043":"互联网服务与基础架构","BK7012":"建筑产品","BK7503":"科技股","FBU.AU":"FLETCHER BUILDING LTD","MP1.AU":"MEGAPORT LTD"},"translate_title":"内部人士购买3只廉价澳大利亚证券交易所股票","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BET.AU":1,"FBU.AU":1,"MP1.AU":1},"content_text":"Here at the Motley Fool, we like to keep abreast of the ASX shares, cheap or not, that see insiders either buy up or sell down their stakes in the companies they are (usually handsomely) paid to run.  Most ASX investors like to see insiders and management own significant chunks of shares, and preferably add more over time. Conversely, investors typically don't like to see these insiders sell down their ownership of these companies, as it decreases their financial alignment with investors. With this in mind, today, we'll discuss three ASX shares that have fortunately found themselves in the former scenario in recent weeks. 3 beaten-up ASX shares being bought by insiders Betmakers Technology Group Ltd (ASX: BET) First up is wagering technology company Betmakers. An ASX notice that was filed last week revealed that Betmakers president and executive chair, Matt Davey, made a series of purchases over 1 and 2 October. These on-market purchases were done at a price of between 8 and 8.5 cents per share. They resulted in Davey increasing his stake in Betmakers by 2 million shares. These buys would have cost Davey roughly $166,500. Davey, through a holding company called 'Tekkorp Holdings LLC', now owns 92 million Betmakers shares. That's in addition to another 5 million performance rights. Clearly, Davey thinks Betmakets shares are looking cheap, given they have fallen more than 42% since May. Megaport Ltd (ASX: MP1) Next up, let's talk about another cheap ASX share in tech stock Megaport. Megaport has also had a rough trot of late, with this company's shares down more than 50% since March. However, one director seems to have taken notice. An ASX filing reveals that Megaport chair and non-executive director, Melinda Snowden, acquired 3,000 Megaport shares on 1 October in an on-market buy. Snowden picked up those 3,000 shares for an average price of $7.53 each, meaning she spent a total of $22,590. This takes Snowden's total position to 11,000 shares, which would be worth around $81,840 at the current share price of $7.44. Fletcher Building Ltd (ASX: FBU) Finally, let's talk about building materials company Fletcher Building. Fletcher is another ASX share that many investors might consider cheap today. That's because this ASX stock has dropped a painful 33.6% over 2024 to date. So Fletcher investors might be buoyed by news that non-executive director Sandra Dodds has been taking advantage of the cheap ASX shares. Dodds bought an additional 10,000 Fletcher Building shares in an on-market transaction on 2 October this month. Dodds paid $27,500 for this parcel of shares, which brings her total holdings to 25,000 shares. 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