In a recent transaction on October 11, 2024, Joseph Patrick Daly, a director and significant shareholder of Butler National Corp (OTCMKTS:BUKS), purchased additional shares of the company. Daly acquired 4,750 shares at a price of $1.4 per share, amounting to a total investment of $6,650.
This purchase increases Daly's stake in the company, reflecting a vote of confidence in Butler National Corp's prospects. The transaction was made public through a filing with the Securities and Exchange Commission. Following this acquisition, Daly's reported ownership in the company stands at 4,130,000 shares.
Investors often monitor insider buying and selling as it can provide insights into the executive's view of the company's future performance. In this case, the buying activity may be seen as a positive sign by investors, as it suggests that an insider is optimistic about the company's future.
Butler National Corp, headquartered in New Century, Kansas, operates in the diverse fields of professional services and the amusement sector. The company's stock is traded under the ticker BUKS.
In other recent news, Butler National Corporation has announced some significant changes to its Board of Directors. The company has welcomed retired Lieutenant General Michael Loh to its board, following the voluntary departure of Aric Peters. Lt. Gen. Loh brings an impressive resume, including over 40 years of service in the U.S. Air Force and a final assignment as the Director of the U.S. Air National Guard, where he managed a $14 billion budget and over 108,400 personnel.
Christopher Reedy, President and CEO of Butler National, expressed optimism regarding Lt. Gen. Loh's appointment. He pointed out that Loh's extensive knowledge, experience, and pilot perspective would be valuable assets for the company's growth, particularly in the aviation sector. Aric Peters, the outgoing board member and VP and Director of Sales at Butler National, also welcomed Loh, noting potential expansion in sales opportunities, specifically regarding Special Mission Modifications. These are recent developments that could shape the future of the company.
InvestingPro Insights
Joseph Patrick Daly's recent purchase of Butler National Corp (OTCMKTS:BUKS) shares aligns with several positive indicators highlighted by InvestingPro. The company's stock has shown significant momentum, with InvestingPro Tips noting a "Strong return over the last month" and "Trading near 52-week high." In fact, BUKS has delivered an impressive 98.02% return over the past year, and its current price is 97.9% of its 52-week high.
The company's financial health appears robust, with InvestingPro Data showing a P/E ratio of 6.72, suggesting the stock may be undervalued relative to its earnings. This is further supported by the InvestingPro Tip that BUKS is "Trading at a low earnings multiple." Additionally, the company's profitability is evident, with a gross profit margin of 44.99% for the last twelve months as of Q1 2025.
These metrics provide context to Daly's insider purchase and may indicate why he sees value in increasing his stake. For investors seeking a deeper understanding of BUKS, InvestingPro offers 12 additional tips, providing a more comprehensive analysis of the company's potential.
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