Although U.S. stocks closed lower on Thursday, 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. (NYSE:HHH) Director William Ackman acquired a total of 120,839 shares an average price of $68.15. To acquire these shares, it cost around $8.23 million.
• What’s Happening: Howard Hughes said it intends to spinoff new division, Seaport Entertainment, to shareholders by year-end 2024.
• What Howard Hughes Does: Howard Hughes Holdings Inc owns, manages, and develops commercial, residential, and mixed-use real estate throughout the USA.

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