Friday 6/17 Insider Buying Report: MGPI, FSP
Friday, June 17, 2:12 PM ET

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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.

At MGP Ingredients, a filing with the SEC revealed that on Wednesday, Donn S. Lux bought 5,000 shares of MGPI, at a cost of $93.37 each, for a total investment of $466,844. Investors have the opportunity to buy MGPI even cheaper than Lux did, with shares trading as low as $91.16 at last check today which is 2.4% under Lux's purchase price. MGP Ingredients is trading up about 1.5% on the day Friday. Before this latest buy, Lux bought MGPI on 2 other occasions during the past year, for a total cost of $1.23M at an average of $81.83 per share.

And at Franklin Street Properties, there was insider buying on Thursday, by Director Brian N. Hansen who bought 100,000 shares at a cost of $3.95 each, for a total investment of $395,330. Before this latest buy, Hansen made one other purchase in the past year, buying $284,140 shares at a cost of $5.68 a piece. Franklin Street Properties is trading up about 5.4% on the day Friday. So far Hansen is in the green, up about 6.5% on their purchase based on today's trading high of $4.21.

For MarketNewsVideo.com, I'm Sayoko Murase.