Over $5M Bet On Southwest Gas? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed lower 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.

Southwest Gas Holdings

• The Trade: Southwest Gas Holdings, Inc. SWX 10% owner Icahn Partners Master Fund LP acquired a total 89,617 shares an average price of $57.93. To acquire these shares, it cost around $5.19 million.
• What’s Happening: Southwest Gas reported better-than-expected results for its first quarter.
• What Southwest Gas Does: Southwest Gas Holdings Inc is a utility company primarily engaged in the purchasing, distributing, and transporting of natural gas in the American Southwest.

ACADIA Pharmaceuticals

• The Trade: ACADIA Pharmaceuticals Inc. ACAD 10% owner Baker Brothers Life Sciences LP acquired a total of 921,522 shares at an average price of $25.10. To acquire these shares, it cost around $23.13 million.
• What’s Happening: ACADIA Pharmaceuticals posted a wider-than-expected first-quarter loss.
• What ACADIA Pharmaceuticals Does: Acadia Pharmaceuticals Inc is a biotechnology company that develops and commercializes biopharmaceutical products to address central nervous system disorders.

Don’t forget to check out our premarket coverage here

Howard Hughes

• The Trade: The Howard Hughes Corporation HHC Director William Ackman bought a total of 98,663 shares at an average price of $74.12. To acquire these shares, it cost around $7.31 million.
• What’s Happening: Howard Hughes reported narrower-than-expected first-quarter loss.
• 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.

Check This Out: Top 4 Energy Stocks That Could Blast Off This Quarter

Energy Transfer

• The Trade: Energy Transfer LP ET Executive Chairman Kelcy Warren bought a total 400,000 shares at an average price of $12.78. The insider spent around $5.11 million to buy those shares.
• What’s Happening: Energy Transfer posted downbeat quarterly results.
• What Energy Transfer Does: Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region.