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

Macerich Company

• The Trade: The Macerich Company (NYSE:MAC) CFO Scott W Kingsmore acquired a total of 6,000 shares an average price of $16.06. To acquire these shares, it cost around $96,360.
• 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.

XPEL

• The Trade: XPEL, Inc. (NASDAQ:XPEL) Director John F North acquired a total of 3,000 shares at an average price of $32.17. To acquire these shares, it cost around $96,510.
• What's Happening: On May 2, XPEL posted worse-than-expected first-quarter results.
• What XPEL Does: XPEL Inc is a provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and commercial/residential window films, and ceramic coatings.

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PPG Industries

• The Trade: PPG Industries, Inc. (NYSE:PPG) Chairman and CEO Timothy M Knavish bought a total of 2,061 shares at an average price of $133.24. To acquire these shares, it cost around $274,615.
• What's Happening: On April 18, PPG Industries reported mixed first-quarter financial results.
• What PPG Industries Does: PPG is a global producer of coatings.

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