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Butler National Corp Stock: price and insider trades · United States
3 insiders bought €322k of shares over the last 90 days, the latest by Daly Joseph Patrick, filed 02 Oct 2026.
Butler National Corp: what insiders have been doing
Butler National Corp is a Industrials company. Its directors and officers file their transactions with SEC (Form 4). Between 24 October 2025 and 24 October 2026, 8 insiders published 58 filings.
Both sides are active: 30 purchases worth €522k and 9 sales worth €703k, from 4 insiders and 1 insider respectively. The net balance comes to €181k on the selling side. Open-market purchases are the filings investors watch most closely, because the insider pays for the shares out of pocket. The largest single trade was a sale of €193k by Zeff Capital, LP, published on 29 December 2025. Those buying include 2 senior executives, 1 major shareholder and 1 chief executive.
Across the 282 companies tracked on its exchange, the median is 8 filings; at 58 filings, this issuer sits above that mark. Looking back to 2006, when coverage begins, insiders filed 226 purchases and 34 sales. The 10-K for the year ended 30 April 2026 shows 98.0 m USD of revenue and 21.9 m USD of net income.
In the case of 22 purchases, another manager of the company was buying within the same 30 days. Such overlaps are known as a cluster signal: distinct people reaching the same decision at about the same time. The most recent open-market purchase was published on 2 October 2026, 22 days ago. Typically, a trade is published a median of 2 days after it takes place. The legal deadline for a Form 4 is two business days after the transaction.
For comparison within the same sector, see the insider buying recorded at Bolloré SE and Auroora Yhtiöt Oyj. Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.
Insider Decl.
384
Thresholds
n/a
Buy Volume
€3M
226 ops. · all time
Sell Volume
€953,246
34 ops. · all time
Who traded when
BuySaleJoseph Patrick Daly94 buys
Zeff Capital, LP9 sales
Michael Anthony Loh4 buys
Christopher J. Reedy3 buys
Veradace Partners LP2 buys
David B. Hayden1 sale
Since the insiders bought
- +19.5%Entry US$4.11 · Close 23 Oct 2026 US$4.91
- +18.9%Entry US$4.13 · Close 23 Oct 2026 US$4.91
- +18.9%Entry US$4.13 · Close 23 Oct 2026 US$4.91
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 2,543 of 26,290 companies
74.4
score / 100
Value67
Quality81
FCF yld5.9%
Earn yld6.8%
EV/EBITDA9.4x
ROE31%
Gross mgn51%
Net mgn22%
Debt/EBITDA0.9x
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2026FY ended April 2026 · cache
US$5.08
Analyst consensus
Income statement
RevenueUS$98M
Gross profitUS$50.2M51% margin
EBITDAUS$38.1M39% margin
Net incomeUS$21.9M21.6% margin
Valuation
PER (trailing)14.1x
P/Book3.8x
Beta0.20
Balance sheet & cash
Market capUS$324.3M
Total debtUS$33.4M
Free Cash FlowUS$19.2M
Debt / Equity37%
Profitability & ownership
ROE31.0%
ROA14.5%
% insiders35.2%
% institutions14.2%
Last declaration on 15 October 2026
Declarations384 total
5,000 shares@ US$4.800.0082% mcap4.2% of flowCommon StockSEC:0001171520-26-000309:1
34,800 shares@ US$4.720.056% mcap28.8% of flowCommon StockSEC:0001171520-26-000309:2
10,303 shares@ US$4.680.016% mcap8.5% of flowCommon StockSEC:0001171520-26-000309:0
1,810 shares@ US$4.040.0028% mcap0.5% of flowCommon StockSEC:0001332596-26-000009:0
Canonical exit: 30 Dec 2026 (T+90)
3,190 shares@ US$4.130.0051% mcap0.9% of flowCommon StockSEC:0001332596-26-000009:1
Canonical exit: 31 Dec 2026 (T+90)
10,000 shares@ US$4.090.016% mcap2.8% of flowCommon StockSEC:0001332596-26-000009:2
Canonical exit: 31 Dec 2026 (T+90)
1,303 shares@ US$4.190.0017% mcap0.4% of flowCommon StockSEC:0001332596-26-000008:1
Canonical exit: 21 Dec 2026 (T+90)
3,197 shares@ US$3.910.0039% mcap0.8% of flowCommon StockSEC:0001332596-26-000008:0
5,000 shares@ US$4.010.0063% mcap1.3% of flowCommon StockSEC:0001332596-26-000008:2
Canonical exit: 21 Dec 2026 (T+90)
3,197 shares@ US$3.910.0039% mcap14.3% of flowButler National Common StockSEC:0002012406-26-000004:0
3,197 shares@ US$3.910.0039% mcap4.5% of flowButler National Common StockSEC:0002033348-26-000014:0
3,197 shares@ US$3.910.0039% mcap16.8% of flowButler National Common StockSEC:0002065459-26-000006:0
4,000 shares@ US$4.100.0052% mcap1.1% of flowCommon StockSEC:0001332596-26-000007:0
Canonical exit: 20 Dec 2026 (T+90)
96 shares@ US$3.900.0001% mcap0.0% of flowCommon StockSEC:0001332596-26-000006:0
Canonical exit: 14 Dec 2026 (T+90)
404 shares@ US$3.910.0005% mcap0.1% of flowCommon StockSEC:0001332596-26-000006:1
Canonical exit: 14 Dec 2026 (T+90)
1,000 shares@ US$4.040.0013% mcap0.3% of flowCommon StockSEC:0001332596-26-000006:2
Canonical exit: 14 Dec 2026 (T+90)
40,000 shares@ US$4.090.051% mcap73.5% of flowBUTLER NATIONAL CORPSEC:0001772447-26-000020:0
Canonical exit: 13 Dec 2026 (T+90)
15,000 shares@ US$3.910.018% mcap26.5% of flowBUTLER NATIONAL CORPSEC:0001772447-26-000020:1
Canonical exit: 14 Dec 2026 (T+90)
10,000 shares@ US$3.910.012% mcap14.0% of flowButler National Common StockSEC:0002033348-26-000012:0
Canonical exit: 14 Dec 2026 (T+90)
20,222 shares@ US$4.9450.038% mcap75.7% of flowButler National Common StockSEC:0000015847-26-000026:0
1,978 shares@ US$4.9450.0037% mcap7.4% of flowButler National Common StockSEC:0000015847-26-000026:1
2,874 shares@ US$4.350.0048% mcap0.9% of flowCommon StockSEC:0001332596-26-000005:0
2,126 shares@ US$4.660.0038% mcap0.7% of flowCommon StockSEC:0001332596-26-000005:1
Canonical exit: 12 Oct 2026 (T+90)
2,874 shares@ US$4.350.0048% mcap14.4% of flowButler National Common StockSEC:0002012406-26-000002:0
2,874 shares@ US$4.350.0048% mcap4.5% of flowButler National Common StockSEC:0002033348-26-000010:0
25 of 384 declarations
About Butler National Corp
Butler National Corp. (ticker BUKS) is a United States-based company quoted on OTCQX, rather than NYSE/NASDAQ at the reference date. For French-speaking investors, it is best understood as a small-cap specialty business with a hybrid model: a technical aerospace operation and a gaming management services business. Founded in 1960 through the merger of an aviation research firm and National Connector Corporation, Butler National is headquartered in the Kansas City, Kansas area, in the United States, with operations primarily rooted in the American Midwest. The company currently reports two main segments: Aerospace and Professional Services (Gaming).
The Aerospace segment is the core industrial engine of the group. It designs, manufactures, integrates, installs, repairs, and services aircraft modification solutions, avionics systems, and mission-specific equipment for general aviation, commercial, government, and military customers. Butler National focuses on special-mission aircraft, electronic systems integration, protection and surveillance systems, maintenance, repair and overhaul (MRO), and build-to-print manufacturing. It also highlights expertise on platforms such as Learjet, Beechcraft King Air, Cessna Caravan, and Gulfstream aircraft. This is a niche market with meaningful barriers to entry, where engineering know-how, certification discipline, and FAA approvals are key competitive advantages.
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The Professional Services segment is centered on gaming management. Through Butler National Service Corporation and BHCMC, LLC, the company manages the Boot Hill Casino and Resort in Dodge City, Kansas, under a contract with the Kansas Lottery. This business provides a recurring revenue stream, but it is also exposed to state regulation, local economic conditions, and the competitive/fiscal environment around gaming. Butler National also provides support services linked to this activity.
From a competitive standpoint, Butler National stands out more for specialization than for scale. In aerospace, its differentiation comes from certified engineering, customization, system integration, and regulatory approvals. In gaming, its value proposition is operational experience and contract-based exposure to the Kansas market. Recent developments have been constructive: the company reported strong fiscal Q3 2026 results, opened a new parts fabrication facility in Newton, Kansas, and disclosed share repurchase activity, all of which point to improving operating momentum and a more explicit focus on capital allocation. Overall, BUKS should be viewed as a specialty industrial/services name with execution, regulation, and contract exposure as the main investment drivers.
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