Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.

On Thursday, Live Nation Entertainment's Director, Jimmy Iovine, made a $1.01M purchase of LYV, buying 13,740 shares at a cost of $73.28 each. Live Nation Entertainment is trading off about 0.2% on the day Friday. This purchase marks the first one filed by Iovine in the past twelve months.

And at MGP Ingredients, there was insider buying on Friday, by Donn S. Lux who purchased 10,000 shares at a cost of $84.06 each, for a trade totaling $840,643. Before this latest buy, Lux bought MGPI on 3 other occasions during the past twelve months, for a total cost of $1.40M at an average of $93.66 per share. MGP Ingredients is trading off about 0.8% on the day Friday. Lux was up about 47.8% on the purchase at the high point of today's trading session, with MGPI trading as high as $124.28 in trading on Friday.

For MarketNewsVideo.com, I'm Sayoko Murase.