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

Lee Enterprises

• The Trade: Lee Enterprises, Incorporated (NASDAQ:LEE) 10% owner Quint Digital Ltd acquired a total of 46,500 shares an average price of $12.92. To acquire these shares, it cost around $600,930.
• What's Happening: On Feb. 1, Lee Enterprises posted a profit for the first quarter.
• What Lee Enterprises Does: Lee Enterprises Inc is a local news publication company in the United States.

Heritage Global

• The Trade: Heritage Global Inc. (NASDAQ:HGBL) CEO Ross Dove acquired a total of 7,297 shares at an average price of $2.75. To acquire these shares, it cost around $20,067.
• What's Happening: On March 14, the company posted upbeat quarterly earnings.
• What Heritage Global Does: Heritage Global Inc values and monetizes industrial and financial assets by providing acquisition, disposition, valuation, and lending services for surplus and distressed assets.

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Issuer Direct

• The Trade: Issuer Direct Corporation (NYSE:ISDR) Director Graeme P. Rein bought a total of 12,614 shares at an average price of $11.91. To acquire these shares, it cost around $150,233.
• What's Happening: On March 7, Issuer Direct posted downbeat quarterly results.
• What Issuer Direct Does: Issuer Direct Corp is a communications and compliance company. It focuses on the needs of corporate issuers.