Over $8M Bet On Howard Hughes? 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.

STAAR Surgical

• The Trade: STAAR Surgical Company STAA 10% owner Neal Bradsher acquired a total of 205,296 shares an average price of $37.81. To acquire these shares, it cost around $7.76 million.
• What’s Happening: Staar Surgical posted better-than-expected second-quarter earnings.
• What STAAR Surgical Does: Staar Surgical Co is a manufacturer of lenses. It designs, develops, manufactures, and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye.

Howard Hughes Holdings

• The Trade: Howard Hughes Holdings Inc HHH 10% owner William Ackman acquired a total of 117,773 shares at an average price of $69.74. To acquire these shares, it cost around $8.21 million.
• What’s Happening: Howard Hughes said it intends to spinoff new division, Seaport Entertainment, to shareholders by year-end 2024.
• What Howard Hughes Holdings Does: Howard Hughes Holdings Inc owns, manages, and develops commercial, residential, and mixed-use real estate throughout the USA.

Don’t forget to check out our premarket coverage here

Citi Trends

• The Trade: Citi Trends, Inc. CTRN 10% owner Pleasant Lake Onshore Feeder Fund LP bought a total of 35,000 shares at an average price of $22.19. To acquire these shares, it cost around $776,558.
• What’s Happening: Citi Trends’ second-quarter FY23 sales decreased 6.2% year-on-year to $173.55 million, beating the analyst consensus estimate of $165.57 million.
• What Citi Trends Does: Citi Trends Inc is a retailer of urban fashion apparel and accessories in the United States.

Check This Out: Top 4 Health Care Stocks That Are Preparing To Pump This Quarter

Coty

• The Trade: Coty Inc. COTY Director Isabelle Parize bought a total of 20,500 shares at an average price of $10.29. The insider spent around $210,945 to buy those shares.
• What’s Happening: Coty priced global offering of 33 million outstanding Class A common stock at $10.80.
• What Coty Does: Coty Inc is a global beauty firm that sells fragrance, color cosmetics, and skin and body care.