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) Juan Miguel Mendoza bought a total of 10,000 shares at an average price of $7.11. To acquire these shares, it cost around $71,100.
• What's Happening: On July 31, Herbalife reported worse-than-expected second-quarter revenue results.
• 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.

PBF Energy

• The Trade: PBF Energy Inc. (NYSE:PBF) 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 1,257,800 shares at an average price of $32.45. To acquire these shares, it cost around $40.8 million.
• What's Happening: PBF Energy will release its earnings results for the third quarter 2024 on Thursday, Oct. 31.
• What PBF Energy Does: PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.

Limbach Holdings

• The Trade: Limbach Holdings, Inc. (NASDAQ:LMB) Director David Richard Gaboury acquired a total of 1,200 shares at an average price of $62.20. The insider spent around $74,640 to buy those shares.
• What's Happening: On Sept. 3, Limbach Holdings, said it has acquired Kent Island Mechanical, LLC.
• What Limbach Holdings Does: Limbach Holdings Inc is a commercial specialty contractor in the fields of heating, ventilation, air conditioning, plumbing, electrical, and building controls for the design and construction of new and renovated buildings, maintenance services, energy retrofits, and equipment upgrades.

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