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.

PBF Energy

The Trade: PBF Energy Inc. ( PBF ) 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 845,000 shares at an average price of $31.28. To acquire these shares, it cost around $26.4 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.

Heartland Express

The Trade: Heartland Express, Inc. ( HTLD ) CEO Michael J Gerdin acquired a total of 50,000 shares at an average price of $11.67. To acquire these shares, it cost around $583,675.

What's Happening: On July 23, Heartland Express ( HTLD ) posted downbeat quarterly sales.

What Heartland Express Does: Heartland Express Inc ( HTLD ) is engaged in providing truckload services across the United States and Canada.

Teladoc Health

The Trade: Teladoc Health, Inc. ( TDOC ) Director Thomas McKinley bought a total of 4,000 shares at an average price of $7.69. To acquire these shares, it cost around $30,756.

What's Happening: On Aug. 26, JP Morgan analyst Lisa Gill maintained Teladoc Health ( TDOC ) with a Neutral and lowered the price target from $16 to $9.

What Teladoc Health Does: Teladoc Health ( TDOC ) is a virtual health provider with a telehealth platform delivering on-demand healthcare via mobile devices, the internet, video, and phone.

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