In a recent transaction, Joseph Patrick Daly, a director and significant shareholder of Butler National Corp (OTC:BUKS), has increased his stake in the company with a series of stock purchases totaling $70,216. The transactions, which took place on April 4, 2024, were executed at prices ranging from $0.77 to $0.8 per share.
Daly's investment in the company, which operates in the miscellaneous amusement and recreation sector, reflects a strong vote of confidence. The director acquired a substantial number of shares, further aligning his interests with those of the company and its shareholders.
The series of transactions saw Daly purchasing shares in varying amounts, with the lowest price paid being $0.77 and the highest reaching $0.8. This strategic accumulation of shares has resulted in Daly holding a more significant position in the company, with a total of 3,975,000 shares owned directly following the transactions.
Investors often monitor insider buying as it can signal executives' belief in the company's prospects or that the stock may be undervalued. Daly's recent purchase is a notable event, given his dual role as a director and a major shareholder, suggesting he foresees positive developments for Butler National Corp.
While the details of the transaction provide factual insights into Daly's increased investment, the broader implications for the company and its stock value will be observed over time as Butler National Corp continues to navigate the market.
InvestingPro Insights
Recent insider activity at Butler National Corp (OTC:BUKS) has caught the attention of investors, as director Joseph Patrick Daly notably increased his stake in the company. This move aligns with an InvestingPro Tip highlighting that management has been aggressively buying back shares, which can often be interpreted as a sign of confidence in the company's future performance. Additionally, Butler National Corp is recognized for its high shareholder yield, which could appeal to investors looking for companies with a potential for return on investment.
Turning to the financials, Butler National Corp's market capitalization stands at $54.4 million, and the company has shown a revenue growth of 4.46% over the last twelve months as of Q3 2024. However, it's also worth noting a quarterly revenue decline of 7.35% in Q3 2024. Despite this, the company is trading at a low P/E ratio of 13.93, which, combined with a PEG ratio of 0.69, suggests that the stock could be undervalued relative to its near-term earnings growth prospects.
Furthermore, Butler National Corp has a price/book ratio of 1.09 as of Q3 2024, indicating that the stock may be reasonably valued in relation to the company’s assets. Investors looking for a deeper dive into Butler National Corp can explore additional InvestingPro Tips at https://www.investing.com/pro/BUKS. There are a total of 9 tips available, offering a more comprehensive analysis for those considering an investment in the company. To access these insights, use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
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