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

Although U.S. stocks closed sharply lower on Tuesday, 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 Holdings

• The Trade: Howard Hughes Holdings Inc HHH 10% owner William Ackman acquired a total of 121,200 shares an average price of $72.58. To acquire these shares, it cost around $8.8 million.
• What’s Happening: Howard Hughes posted a wider-than-expected second-quarter loss.
• What Howard Hughes Holdings Does: Howard Hughes Holdings owns, manages, and develops commercial, residential, and mixed-use real estate throughout the USA.

NIKE

• The Trade: NIKE, Inc. NKE Director Holmes Robert Swan acquired a total of 13,072 shares at an average price of $96.13. To acquire these shares, it cost around $1.26 million.
• What’s Happening: NIKE posted upbeat earnings for its first quarter, while sales missed expectations.
• What NIKE Does: Nike is the largest athletic footwear and apparel brand in the world. Key categories include basketball, running, and football (soccer).

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Funko

• The Trade: Funko, Inc. FNKO 10% owner Chan Kenneth Hsiangtze bought a total of 9,349 shares at an average price of $7.25. To acquire these shares, it cost around $67,735.
• 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.

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Agree Realty

• The Trade: Agree Realty Corporation ADC CEO and President Joey Agree bought a total of 4,000 shares at an average price of $53.84. The insider spent around $215,360 to buy those shares.
• What’s Happening: Agree Realty promoted Nicole Witteveen to COO.
• What Agree Realty Does: Agree Realty Corporation operates as a fully integrated real estate investment trust mainly focused on the ownership, acquisition, development and management of retail properties net leased to industry-leading tenants.