Over $16 Million Bet On AMERCO? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed 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.

AMERCO

• The Trade: AMERCO UHAL 10% owner Clarendon Strategies LLC acquired a total of 248,300 shares an average price of $64.97. To acquire these shares, it cost around $16.13 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.

Lazydays Holdings

• The Trade: Lazydays Holdings, Inc. LAZY Director Christopher Shackelton acquired a total of 542,626 shares at an average price of $11.61. To acquire these shares, it cost around $6.3 million.
• What’s Happening: Lazydays, last month, posted better-than-expected Q3 sales results.
• What Lazydays Holdings Does: Lazydays Holdings Inc operates recreational vehicle dealerships.

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Also check this: CNN Fear & Greed Index In 'Neutral' Zone After Dow Tumbles 300 Points

Beyond Air

• The Trade: Beyond Air, Inc. XAIR Director An Robert Carey bought a total of 20,000 shares at an average price of $5.75. To acquire these shares, it cost around $115 thousand.
• What’s Happening: Beyond Air, last month, posted a wider-than-expected quarterly loss.
• What Beyond Air Does: Beyond Air Inc is a clinical-stage medical device and biopharmaceutical company which develops a Nitric Oxide (NO) Generator and Delivery System that uses NO generated from ambient air and delivers precise amounts of NO to the lungs for the potential treatment of respiratory and other diseases.