$10M Bet On Madison Square Garden Entertainment? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed higher 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.

Madison Square Garden Entertainment

• The Trade: Madison Square Garden Entertainment Corp. (NYSE:MSGE) Director Thomas C. Dolan acquired a total of 322,580 shares an average price of $31.00. To acquire these shares, it cost around $10 million.
• What’s Happening: Madison Square Garden Entertainment announced 5.25 million share offering by Sphere Entertainment priced at $31 per share.
• What Madison Square Garden Entertainment Does: Madison Square Garden Entertainment Corp provides live entertainment, delivering unforgettable experiences while forging deep connections with diverse and passionate audiences.

RumbleON

• The Trade: RumbleON, Inc. (NASDAQ:RMBL) 10% owner SH Capital Partners LP acquired a total of 200,000 shares at an average price of $10.90. To acquire these shares, it cost around $2.18 million.
• What’s Happening: RumbleOn announced CEO Marshall Chesrown will resign amid an investigation into his use of company resources.
• What RumbleON Does: RumbleON Inc is a USA-based online retailer that allows both consumers and dealers to Buy-Sell-Trade-Finance pre-owned motorcycles in an efficient, fast, transparent, and engaging experience.

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Howard Hughes

• The Trade: The Howard Hughes Corporation (NYSE:HHC) Director William Ackman bought a total of 18,446 shares at an average price of $74.92. To acquire these shares, it cost around $1.38 billion.
• What’s Happening: Howard Hughes posted a narrower-than-expected quarterly loss.
• What Howard Hughes Does: The Howard Hughes Corp is a real estate company that develops master-planned communities (MPCs) and is involved in other strategic real estate development opportunities across the United States.

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