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

Although U.S. stocks closed higher 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.

Howard Hughes

• The Trade: Howard Hughes Holdings Inc. HHH Director William Ackman acquired a total of 173,722 shares an average price of $73.29. To acquire these shares, it cost around $12.73 million.
• What’s Happening: Howard Hughes posted upbeat results for the third quarter.
• What Howard Hughes Does: Howard Hughes Holdings Inc owns, manages, and develops commercial, residential, and mixed-use real estate throughout the USA.

Heartland Express

• The Trade: Heartland Express, Inc. HTLD CEO Michael J Gerdin acquired a total of 95,602 shares at an average price of $13.08. To acquire these shares, it cost around $1.25 million. The company’s Director Michael John Sullivan also bought 2,000 shares.
• What’s Happening: Heartland Express posted a loss for the third quarter.
• What Heartland Express Does: Heartland Express Inc is engaged in providing truckload services across the United States and Canada.

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Impinj

• The Trade: Impinj, Inc. PI Director Patrick Daniel Gibson bought a total of 37,513 shares at an average price of $82.91. To acquire these shares, it cost around $3.11 million.
• What’s Happening: Impinj reported better-than-expected third-quarter revenue results.
• What Impinj Does: Impinj Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's identity, location, and authenticity to business and consumer applications.

• WK Kellogg

• The Trade: WK Kellogg Co KLG Chief Supply Chain Officer Sherry Brice bought a total of 3,150 shares at an average price of $11.75. The insider spent around $37,019 to buy those shares.
• What’s Happening: WK Kellogg reported a third-quarter FY23 sales decline of 1.9% year-on-year to $692 million.
• What WK Kellogg Does: WK Kellogg is the second-largest cereal manufacturer in North America. Its cereal brands include Special K, Frosted Flakes, Raisin Bran, Froot Loops, Frosted Mini Wheats, Kashi, Corn Flakes, Rice Krispies, Apple Jacks, and Bear Naked.

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