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

Beyond

• The Trade: Beyond, Inc. (NYSE:BYON) Director Joseph J Tabacco Jr acquired a total of 12,400 shares an average price of $16.01. To acquire these shares, it cost around $198,524.
• What's Happening: On May 6, Beyond posted worse-than-expected first-quarter financial results..
• What Beyond Does: Beyond Inc is an online retailer that provides products and services through websites.

Herbalife

• The Trade: Herbalife Ltd. (NYSE:HLF) Director Juan Miguel Mendoza acquired a total of 15,000 shares at an average price of $10.55. To acquire these shares, it cost around $158,220.
• What's Happening: On May 1, Herbalife reported better-than-expected first-quarter adjusted EPS.
• 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.

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MasterCraft Boat

• The Trade: MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) 10% owner Adam Gray bought a total of 160,330 shares at an average price of $19.66. To acquire these shares, it cost around $3.19 million.
• What's Happening: On May 8, MasterCraft Boat reported upbeat third-quarter financial results.
• What MasterCraft Boat Does: MasterCraft Boat Holdings Inc designs, manufactures, and markets performance sport boats and outboard boats.

Kemper

• The Trade: Kemper Corporation (NYSE:KMPR) Director Gerald Laderman bought a total of 5,000 shares at an average price of $61.01. The insider spent around $305,050 to buy those shares.
• What's Happening: On May 1, Kemper posted weaker-than-expected quarterly earnings.
• What Kemper Does: Kemper Corp is a diversified insurance company that provides services in property and casualty insurance, along with life and health insurance.