Although U.S. stocks closed higher on Monday, 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.

Herbalife

• The Trade: Herbalife Ltd. (NYSE:HLF) Director Donal L Mulligan acquired a total of 45,657 shares at an average price of $9.65. To acquire these shares, it cost around $289,500.
• What's Happening: On May 1, Herbalife Nutrition reported better-than-expected first-quarter adjusted EPS.
• What Herbalife Does: Herbalife Ltd is an international nutrition company that provides health and wellness products to consumers in 95 markets, which consist of countries and territories, through their direct-selling business model.

Macerich

• The Trade: The Macerich Company (NYSE:MAC) President and CEO Jackson Hsieh acquired a total of 140,000 shares at an average price of $14.26. To acquire these shares, it cost around $2 million.
• What's Happening: On April 30, Macerich posted better-than-expected first-quarter sales.
• What Macerich Does: The Macerich Company is an S&P 500 company that invests in premium mall assets.

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AMREP

• The Trade: AMREP Corporation (NYSE:AXR) 10% owner Rainey E. Lancaster bought a total of 10,000 shares at an average price of $20.95. To acquire these shares, it cost around $209,500.
• What's Happening: On March 8, AMREP reported earnings of 2 cents per share for its 2024 fiscal third quarter, versus year-ago earnings of $3.12 per share.
• What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.

Sensata Technologies

• The Trade: Sensata Technologies Holding plc (NYSE:ST) Director Ali John Mirshekari bought a total of 268,310 shares at an average price of $39.64. The insider spent around $10.64 million to buy those shares.
• What's Happening: On April 29, Sensata Technologies reported better-than-expected first-quarter financial results.
• What Sensata Technologies Does: Sensata Technologies is a global supplier of sensors for transportation and industrial applications.