Over $109 Million Bet On Howard Hughes? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed sharply higher on Wednesday, 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.

Howard Hughes

• The Trade: The Howard Hughes Corporation HHC Director William Ackman acquired a total of 1,560,205 shares an average price of $70.00. To acquire these shares, it cost around $109.21 million.
• What’s Happening: The company, last month, posted downbeat quarterly results.
• What Howard Hughes Does: The Howard Hughes Corp is a real estate company that develops master-planned communities (MPCs) and is involved in other strategic real estate development opportunities across the United States.

AMERCO

• The Trade: AMERCO UHAL President Edward J. Shoen acquired a total of 472,550 shares at an average price of $59.74. To acquire these shares, it cost around $28.23 million.
• What’s Happening: The company, last month, posted downbeat Q2 results.
• What AMERCO Does: Amerco Inc is an American provider of rental trucks to household movers.

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Hillman Solutions

• The Trade: Hillman Solutions Corp. HLMN Director, COB, President and CEO Douglas Cahill bought a total of 129,000 shares at an average price of $7.71. To acquire these shares, it cost around $993.95 thousand.
• What’s Happening: Hillman, last month, lowered its FY22 revenue guidance.
• What Hillman Solutions Does: Hillman Solutions Corp is a provider of hardware-related products and related merchandising services to retail markets in North America.

Prologis

• The Trade: Prologis, Inc. PLD Director David P. O'Connor bought a total 9,000 shares at an average price of $114.13. The insider spent around $1.03 million to buy those shares.
• What’s Happening: Wells Fargo recently maintained Prologis with an Overweight and raised the price target from $127 to $135.
• What Prologis Does: Prologis was formed by the June 2011 merger of AMB Property and Prologis Trust..