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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.

At Affiliated Managers Group, a filing with the SEC revealed that on Friday, Head of Affiliate Engagement John R. Erickson purchased 3,000 shares of AMG, at a cost of $169.95 each, for a total investment of $509,850. Affiliated Managers Group is trading up about 3.6% on the day Tuesday.

And on Thursday, EVP, CFO Brian P. Lynch purchased $386,900 worth of Callaway Golf, purchasing 15,000 shares at a cost of $25.79 each. This buy marks the first one filed by Lynch in the past twelve months. Callaway Golf is trading up about 6.7% on the day Tuesday. Lynch was up about 11.8% on the buy at the high point of today's trading session, with ELY trading as high as $28.84 at last check today.

For MarketNewsVideo.com, I'm Sayoko Murase.