$1M Bet On This Tech Stock? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed higher on Thursday, 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.

ACI Worldwide

• The Trade: ACI Worldwide, Inc. ACIW Director, President and CEO Thomas W Warsop III acquired a total of 43,000 shares an average price of $23.63. To acquire these shares, it cost around $1.02 million.
• What’s Happening: ACI Worldwide named Thomas Warsop as President and Chief Executive Officer.
• What ACI Worldwide Does: ACI Worldwide Inc develops, markets, and installs a portfolio of software products primarily focused on facilitating electronic payments.

Topgolf Callaway Brands

• The Trade: Topgolf Callaway Brands Corp. MODG Director Adebayo O Ogunlesi acquired a total of 100,000 shares at an average price of $19.45. To acquire these shares, it cost around $1.94 million.
• What’s Happening: Topgolf Callaway issued weak FY23 EPS guidance.
• What Topgolf Callaway Brands Does: Topgolf Callaway Brands Corp is a modern golf and active lifestyle company that provides world-class golf entertainment experiences, designs and manufactures premium golf equipment, and sells golf and active lifestyle apparel and other accessories.

Don’t forget to check out our premarket coverage here

Donegal Group

• The Trade: Donegal Group Inc. DGICA 10% owner Donegal Mutual Insurance Co bought a total of 6,191 shares at an average price of $15.32. To acquire these shares, it cost around $94.83 thousand.
• What’s Happening: Donegal posted weaker-than-expected quarterly earnings.
• What Donegal Group Does: Donegal Group Inc is an insurance holding company that offers personal and commercial lines of property and casualty insurance to businesses and individuals.

Check This Out: Wall Street's Most Accurate Analysts Say Hold These 3 Health Care Stocks With Over 3% Dividend Yields