Although U.S. stocks closed lower 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.

Agree Realty

• The Trade: Agree Realty Corporation (NYSE:ADC) Director, Executive Chairman of Board Richard Agree acquired a total of 18,249 shares an average price of $63.70. To acquire these shares, it cost around $1.16 million.
• What’s Happening: Agree Realty posted downbeat quarterly sales.
• 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.

Maximus

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