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. (NYSE: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 (NASDAQ: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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