Over $1 Million Bet On Wolverine World Wide? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed higher on Tuesday, 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.

Heartland Express

• The Trade: Heartland Express, Inc. HTLD CEO Michael J Gerdin acquired a total of 7,475 shares an average price of $15.99. To acquire these shares, it cost around $119.52 million.
• What’s Happening: The company, last month, posted better-than-expected Q3 results.
• What Heartland Express Does: Heartland Express Inc is engaged in providing truckload services across the United States and Canada.

Wolverine World Wide

• The Trade: Wolverine World Wide, Inc. WWW Director Jeffrey Boromisa acquired a total of 100,000 shares at an average price of $10.49. To acquire these shares, it cost around $1.05 million.
• What’s Happening: Williams Trading recently downgraded Wolverine World Wide from Buy to Hold and announced a $13 price target.
• What Wolverine World Wide Does: Wolverine World Wide Inc is engaged in designing, manufacturing, sourcing, marketing, licensing, and distributing branded footwear, apparel, and accessories.

Don’t forget to check out our premarket coverage here .

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Public Storage

• The Trade: Public Storage PSA President and CEO Joseph Russell Jr bought a total of 2,500 shares at an average price of $297.65. To acquire these shares, it cost around $744.14 thousand.
• What’s Happening: Public Storage, last month, reported worse-than-expected Q3 sales results.
• What Public Storage Does: Public Storage is the largest owner of self-storage facilities in the U.S. with more than 2,800 self-storage facilities in 39 states and approximately 200 million square feet of rentable space.

V.F. Corporation

• The Trade: V.F. Corporation VFC Director Mark S. Hoplamazian bought a total 17,500 shares at an average price of $28.04. The insider spent around $490.71 thousand to buy those shares.
• What’s Happening: VF Corporation recently said it expects total revenue growth in the second half of FY23 to be "modestly lower than previously outlined."
• What V.F. Corporation Does: VF designs, produces, and distributes branded apparel and accessories. Its largest apparel categories include action sports, outdoor, and workwear.