Over $1M Bet On NiSource? Check Out These 4 Stocks Insiders Are Buying

Although U.S. stocks closed higher 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.

NiSource

• The Trade: NiSource Inc. NI Director, President and CEO Lloyd Yates acquired a total of 40,000 shares an average price of $26.44. To acquire these shares, it cost around $1.06 million.
• What’s Happening: NiSource posted weaker-than-expected quarterly earnings.
• What NiSource Does: NiSource is one of the nation's largest natural gas distribution companies with approximately 3.2 million customers in Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and Virginia.

Forward Air

• The Trade: Forward Air Corporation FWRD Chief Operating Officer Chris Ruble acquired a total of 1,433 shares at an average price of $69.77. To acquire these shares, it cost around $99,992.
• What’s Happening: ClearBridge Investments LLC sent a letter to the Chairman and Chief Executive Officer and the lead independent director of Forward Air urging the company's board to reconsider its recently announced intention to buy Omni Logistics.
• What Forward Air Does: Forward Air Corp is an asset-light freight and logistics company. The company's operating segment includes Expedited Freight and Intermodal.

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Commerce Bancshares

• The Trade: Commerce Bancshares, Inc. CBSH Director Blackford F Brauer bought a total of 5,000 shares at an average price of $49.14. To acquire these shares, it cost around $245,676.
• What’s Happening: Commerce Bancshares posted upbeat quarterly results.
• What Commerce Bancshares Does: Commerce Bancshares Inc. is a $22 billion regional bank that provides a diversified line of financial services, including business and personal banking, wealth management, financial planning, and investments through its affiliated companies.

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Funko

• The Trade: Funko, Inc. FNKO 10% owner Chan Kenneth Hsiangtze bought a total 90,185 shares at an average price of $6.06. The insider spent around $546,530 to buy those shares.
• What’s Happening: Funko reported a second-quarter earnings miss and issued weak guidance.
• What Funko Does: Funko Inc is an us-based pop culture consumer products company. It creates whimsical, fun, and different products which enable the customer to express their affinity for their favorite through the movie, TV show, video game, musician, or sports team.