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.

Fortress Biotech

• The Trade: Fortress Biotech, Inc. (NASDAQ:FBIO) President, CEO and Chairman Lindsay A MD Rosenwald acquired a total of 5,000 shares at an average price of $7.35. To acquire these shares, it cost around $36,765.
• What's Happening: On July 5, Fortress Biotech reported a pause in the payment of dividends on its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock.
• What Fortress Biotech Does: Fortress Biotech Inc is a biopharmaceutical company. The firm is involved in the business of acquiring, developing, and commercializing pharmaceutical and biotechnology products.

Aaron's Company

• The Trade: The Aaron's Company, Inc. (NYSE:AAN) EVP, Gen Counsel/Corp Sec Rachel G George acquired a total of 500 shares at an average price of $8.48. To acquire these shares, it cost around $4,240.
• What's Happening: On July 10, Jefferies analyst Kyle Joseph downgraded Aarons from Buy to Hold and lowered the price target from $11 to $10.1.
• What Aaron's Does: The Aarons Co Inc is a specialty retailer that has developed a lease-to-own model.

NexPoint Diversified Real Estate Trust

• The Trade: NexPoint Diversified Real Estate Trust (NYSE:NXDT) Matt McGraner bought a total of 15,000 shares at an average price of $5.37. To acquire these shares, it cost around $80,600.
• What's Happening: On June 20, NexPoint Real Estate Opportunities, LLC announced its nomination of four highly qualified, independent candidates for election to the UDF IV Board of Trustees at its upcoming Annual Meeting of Shareholders.
• What NexPoint Diversified Real Estate Trust Does: NexPoint Diversified Real Estate Trust is a publicly traded REIT focused on opportunistic real estate investments in the United States.

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