Although U.S. stocks closed lower on Tuesday, 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 Grand Vacations

The Trade: Hilton Grand Vacations Inc. ( HGV ) Director Brenda J Bacon acquired a total of 5,425 shares an average price of $46.07. To acquire these shares, it cost around $249,945.

What's Happening: On Feb. 29, Hilton Grand Vacations ( HGV ) posted upbeat quarterly earnings.

What Hilton Grand Vacations Does: Hilton Grand Vacations Inc ( HGV ) is a timeshare company engaged in developing, marketing, selling, managing, and operating timeshare resorts, timeshare plans, and ancillary reservation services, under the Hilton Grand Vacations ( HGV ) brand.

Motorcar Parts of America

The Trade: Motorcar Parts of America, Inc. ( MPAA ) Director David Bryan acquired a total of 1,200 shares at an average price of $9.09. To acquire these shares, it cost around $10,910.

What's Happening: On Feb. 9, Motorcar Parts of America ( MPAA ) posted downbeat quarterly results.

What Motorcar Parts of America Does: Motorcar Parts of America Inc ( MPAA ) is a us-based manufacturer, remanufacturer, and distributor of aftermarket automotive and light truck applications. It manufactures and distributes heavy-duty truck and industrial and agricultural application parts.

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FMC

The Trade: FMC Corporation ( FMC ) EVP and CFO Andrew D Sandifer bought a total of 2,150 shares at an average price of $59.22. To acquire these shares, it cost around $127,323.

What's Happening: On March 1, Wolfe Research analyst Chris Parkinson initiated coverage on FMC with a Peer Perform rating.

What FMC Does: FMC is a pure-play global crop protection company with a fairly balanced product portfolio across geographies and crop exposure.

Jackson Financial

The Trade: Jackson Financial Inc. ( JXN ) Director Derek G Kirkland bought a total of 3,500 shares at an average price of $55.67. The insider spent around $194,845 to buy those shares.

What's Happening: On March 1, Morgan Stanley analyst Nigel Dally maintained Jackson Finl with an Equal-Weight and raised the price target from $49 to $52.

What Jackson Financial Does: Jackson Financial Inc ( JXN ) helps Americans grow and protect their retirement savings and income to enable them to pursue financial freedom for life.

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