Although U.S. stocks closed mixed 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.

Tilly's

• The Trade: Tilly's, Inc. (NYSE:TLYS) 10% owner Pleasant Lake Partners LLC acquired a total of 116,675 shares at an average price of $5.56. To acquire these shares, it cost around $649,067.
• What's Happening: On June 6, Tilly's posted a wider-than-expected quarterly loss.
• What Tilly's Does: Tilly's Inc works as a specialty retailer of casual apparel, footwear, and accessories for young men, young women, boys, and girls.

RE/MAX Holdings

• The Trade: RE/MAX Holdings, Inc. (NYSE:RMAX) 10% owner MAGNOLIA GROUP, LLC acquired a total of 26,522 shares at an average price of $8.03. To acquire these shares, it cost around $212,914.
• What's Happening: On May 2, RE/MAX posted upbeat quarterly results.
• What RE/MAX Holdings Does: RE/MAX Holdings Inc operates as a franchisor of real estate brokerage services. It recruits and retains agents and sells franchises.

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Citi Trends

• The Trade: Citi Trends, Inc. (NASDAQ:CTRN) 10% owner Pleasant Lake Partners LLC bought a total of 24,000 shares at an average price of $19.95. To acquire these shares, it cost around $478,756.
• What's Happening: On June 4, Citi Trends posted a narrower-than-expected quarterly loss.
• What Citi Trends Does: Citi Trends Inc is a retailer of urban fashion apparel and accessories in the United States.

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