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.

Cardlytics

• The Trade: Cardlytics, Inc. (NASDAQ:CDLX) 10% owner Clifford Sosin acquired a total of 661,715 shares an average price of $13.55. To acquire these shares, it cost around $8.96 million.
• What's Happening: On March 18, Cardlytics entered an Equity Distribution Agreement pursuant to which the Company may issue and sell, from time to time up to $50 million.
• What Cardlytics Does: Cardlytics Inc operates an advertising platform within financial institutions' digital channels, which include online, mobile, email, and various real-time notifications.

AerSale

• The Trade: AerSale Corporation (NASDAQ:ASLE) Director Nicolas Finazzo acquired a total of 35,277 shares at an average price of $7.52. To acquire these shares, it cost around $265,360.
• What's Happening: On March 7, AerSale reported worse-than-expected fourth-quarter financial results.
• What AerSale Does: AerSale Corp is an integrated, diversified leader in aviation aftermarket products and services.

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Paragon 28

• The Trade: Paragon 28, Inc. (NYSE:FNA) Director Albert Dacosta bought a total of 28,000 shares at an average price of $9.12. To acquire these shares, it cost around $255,225.
• What's Happening: On Feb. 29, Paragon 28 posted better-than-expected quarterly sales.
• What Paragon 28 Does: Paragon 28 Inc is a medical devices company that develops, distributes, and sells medical devices in the foot and ankle segment of the orthopedic implant marketplace.

Kinetik Holdings

• The Trade: Kinetik Holdings Inc. (NYSE:KNTK) Director Jamie Welch bought a total of 14,814 shares at an average price of $33.75. The insider spent around $499,972 to buy those shares.
• What's Happening: On March 14, Kinetik Holdings announced the pricing of a secondary offering of 11,373,801 shares at $33.75 per share.
• What Kinetik Holdings Does: Kinetik is a midstream operator that provides gathering and processing services to gas and oil producers as well as pipeline transportation.