$5.6M Bet On This Real Estate Stock? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed mixed 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.

InnSuites Hospitality Trust

• The Trade: InnSuites Hospitality Trust (NYSE:IHT) President and CEO James F Wirth acquired a total of 2,000 shares an average price of $2,809.35. To acquire these shares, it cost around $5.62 million.
• What’s Happening: InnSuites Hospitality recently reported an increase in quarterly sales.
• What InnSuites Hospitality Trust Does: InnSuites Hospitality Trust is a real estate investment trust. It is engaged in the ownership and operation of hotel properties.

Astria Therapeutics

• The Trade: Astria Therapeutics, Inc. (NASDAQ:ATXS) Director Joseph Edelman acquired a total of 740,000 shares at an average price of $6.20. To acquire these shares, it cost around $4.59 million.
• What’s Happening: Astria Therapeutics, last month, posted a narrower quarterly loss.
• What Astria Therapeutics Does: Astria Therapeutics Inc is a biopharmaceutical company engaged to bring life-changing therapies to patients and families affected by rare and niche allergic and immunological diseases.

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Steel Connect

• The Trade: Steel Connect, Inc. (NASDAQ:STCN) 10% owner WF Asset Corp. bought a total of 9,437 shares at an average price of $9.60. To acquire these shares, it cost around $90,628.
• What’s Happening: Steel Connect recently reported a decline in quarterly sales.
• What Steel Connect Does: Steel Connect Inc is a diversified holding company. The company's operating segment include Direct Marketing and Supply Chain.

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