In a recent transaction, Joseph Patrick Daly, a director and major shareholder of Butler National Corp (OTC:BUKS), invested $11,870 in the company's common stock. The purchase was executed at prices ranging from $1.3 to $1.34 per share, according to a filing with the Securities and Exchange Commission.
The transactions took place on October 4, 2024, and involved the acquisition of 8,616 shares at $1.34 each and an additional 250 shares at $1.3 each. Following these purchases, Daly's total holdings in Butler National Corp increased to 4,125,250 shares.
Butler National Corp, based in New Century, Kansas, operates in the diverse fields of aerospace, professional services, and gaming. The company is incorporated in Delaware and has a fiscal year end on April 30.
The recent stock purchases by Daly affirm his ongoing commitment to the company and represent a substantial addition to his already significant ownership stake. Investors often view such insider buying as a positive signal about the company's future prospects and management's belief in the firm's value.
As a director and a ten percent owner of the company, Daly's transactions are closely watched by the market for indications of insider confidence. The details of these transactions are publicly disclosed to ensure transparency and to comply with SEC regulations.
In other recent news, Butler National Corporation has welcomed retired Lieutenant General Michael Loh to its Board of Directors. This development follows the voluntary departure of Aric Peters from the board. Lt. Gen. Loh, with his extensive military service and experience, is expected to bring a unique perspective to the corporation.
Lt. Gen. Loh's career includes over 40 years in the U.S. Air Force, culminating in his role as Director of the U.S. Air National Guard. In this position, he managed policies, plans, and programs for over 108,400 personnel and a $14 billion budget, gaining experience that is anticipated to benefit Butler National.
Christopher Reedy, President and CEO of Butler National, highlighted the value of Lt. Gen. Loh's vast knowledge and pilot perspective for the company's growth, particularly in the aviation sector. Aric Peters, VP and Director of Sales at Butler National, also expressed optimism about potential expansion in sales opportunities, especially in Special Mission Modifications. These are indeed recent developments in Butler National Corporation's operations.
InvestingPro Insights
Joseph Patrick Daly's recent investment in Butler National Corp (OTC:BUKS) aligns with several positive indicators highlighted by InvestingPro. The company's stock has shown impressive performance, with InvestingPro data revealing a 77.48% price total return over the past year and a substantial 69.6% return in the last six months. This strong momentum is further emphasized by the stock trading at 92.2% of its 52-week high.
InvestingPro Tips suggest that BUKS is trading at a low earnings multiple, with a P/E ratio of 6.72. This valuation metric, combined with the company's profitability over the last twelve months, may have influenced Daly's decision to increase his stake. Additionally, the tip indicating that BUKS operates with a moderate level of debt could be seen as a positive factor for long-term stability.
The company's financial health appears robust, with InvestingPro data showing a revenue of $81.02 million in the last twelve months and a strong EBITDA growth of 56.47%. These figures, along with the InvestingPro Tip that liquid assets exceed short-term obligations, paint a picture of a company with solid financial footing.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips that could provide further insight into Butler National Corp's investment potential. These additional tips, available through the InvestingPro product, could offer valuable context to Daly's insider buying activity and the company's overall financial health.
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