Over $32 Million Bet On AMERCO? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed mostly lower on Friday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

HireRight Holdings

• The Trade: HireRight Holdings Corporation HRT 10% owner GAP (Bermuda) L.P. acquired a total of 554,988 shares an average price of $9.64. To acquire these shares, it cost around $5.35 million.
• What’s Happening: Barclays maintained HireRight Holdings with an Equal-Weight and raised the price target from $9 to $10..
• What HireRight Holdings Does: HireRight Holdings, incorporated in 1990 provides technology-driven workforce risk management and compliance solutions worldwide.

AMERCO

• The Trade: AMERCO UHAL President Edward J. Shoen acquired a total of 603,150 shares at at an average price of $53.80. To acquire these shares, it cost around $32.45 million.
• What’s Happening: The company recently posted downbeat Q2 results.
• What AMERCO Does: AMERCO, based in Reno, Nevada, operates as a do-it-yourself moving and storage operator for household and commercial goods.

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Home Depot

• The Trade: The Home Depot, Inc. HD Director Paula Santilli bought a total of 1,583 shares at an average price of $315.80. To acquire these shares, it cost around $499.91 thousand.
• What’s Happening: The company recently posted upbeat quarterly earnings.
• What Home Depot Does: The Home Depot, based in Atlanta, Georgia, operates as a home improvement retailer.