$12M Bet On Howard Hughes? Check Out These 4 Stocks Insiders Are Buying

Although U.S. 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.

Howard Hughes

• The Trade: Howard Hughes Holdings Inc. (NYSE:HHH) Director William Ackman acquired a total of 164,286 shares an average price of $73.34. To acquire these shares, it cost around $12.05 million.
• What’s Happening: Howard Hughes posted upbeat results for the third quarter.
• What Howard Hughes Does: Howard Hughes Holdings Inc owns, manages, and develops commercial, residential, and mixed-use real estate throughout the USA.

ASA Gold and Precious Metals

• The Trade: ASA Gold and Precious Metals Limited (NYSE:ASA) 10% owner Boaz Weinstein acquired a total of 97,862 shares at an average price of $14.53. To acquire these shares, it cost around $1.42 million.
• What’s Happening: The company’s stock gained around 8% over the past month.
• What ASA Gold and Precious Metals Does: ASA Gold And Precious Metals Ltd is a closed-end, non-diversified investment company.

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Qorvo

• The Trade: Qorvo, Inc. (NASDAQ:QRVO) Director Walden Rhines bought a total of 5,000 shares at an average price of $93.19. To acquire these shares, it cost around $465,950.
• What’s Happening: Qorvo posted upbeat earnings for the second quarter.
• What Qorvo Does: Qorvo represents the combined entity of RF Micro Devices and TriQuint Semiconductor, which merged in January 2015.

Kemper

• The Trade: Kemper Corporation (NYSE:KMPR) President and CEO Joseph Lacher Jr bought a total of 5,000 shares at an average price of $43.20. The insider spent around $216,000 to buy those shares.
• What’s Happening: Kemper posted a wider-than-expected quarterly loss.
• What Kemper Does: Kemper Corp is a diversified insurance company that provides services in property and casualty insurance, along with life and health insurance.

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