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.

Hilton Worldwide

The Trade: Hilton Worldwide Holdings Inc. ( HLT ) Director Judith McHale acquired a total of 4,750 shares at an average price of $210.81. To acquire these shares, it cost around $1 million.

What's Happening: On Sept. 5, Hilton announced the pricing of senior notes offering.

What Hilton Worldwide Does: Hilton Worldwide Holdings ( HLT ) operates 1.2 million rooms across its more than 20 brands serving the premium economy scale through luxury segments.

PBF Energy

The Trade: PBF Energy Inc. ( PBF ) 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 770,000 shares at an average price of $31.98. To acquire these shares, it cost around $24.6 million.

What's Happening: PBF Energy ( PBF ) will release its earnings results for the third quarter 2024 on Thursday, Oct. 31.

What PBF Energy Does: PBF Energy Inc ( PBF ) is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.

Mercer International

The Trade: Mercer International Inc. ( MERC ) Director Janine North bought a total of 2,000 shares at an average price of $6.04. To acquire these shares, it cost around $12,080.

What's Happening: On Aug. 8, Mercer Intl ( MERC ) posted upbeat quarterly sales.

What Mercer International Does: Mercer International Inc ( MERC ) is a forest products company with two reportable operating segments in pulp and solid wood.

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