The insider cluster is mixed and trivial in dollar terms relative to market cap. Director buying post-record earnings is a modest positive signal, but the larger sell by Zeff Capital, LP offsets it. No actionable trade signal — monitor next quarterly filing for any change in insider accumulation patterns.
Price Chart
Executive Summary
Butler National Corp insider cluster shows a mixed picture: Director Daly Joseph Patrick made open-market purchases totaling ~$54K at $4.37-$4.66, while 10% owner Zeff Capital, LP sold ~$221K at $4.46-$4.65. Four directors also received non-cash grants of 2,874 shares each. The purchases follow record FY2026 earnings (revenue $97.967M, operating income $28.453M) filed 8 days prior, suggesting insiders see value post-results, but the larger sell by a major holder tempers the signal. The net dollar value of open-market activity is ~$167K, which is ~0.05% of a ~$326M market cap — trivial in proportion, making this cluster noise despite the bullish earnings context.
Key Financial Metrics
Key Facts
- Director Daly Joseph Patrick purchased 12,126 shares total (~$54K) on July 13-14 at $4.37-$4.66.
- 10% owner Zeff Capital, LP sold 47,975 shares total (~$221K) on July 13-14 at $4.46-$4.65.
- Four directors (Daly, Loh, Bowen, Yowell) each received non-cash grants of 2,874 shares at $4.35 on July 14.
- Cluster follows record FY2026 earnings (revenue $97.967M, operating income $28.453M) filed July 8.
- Total open-market dollar value (~$167K net selling) is ~0.05% of market cap — trivial.
Financial Impact
Open-market insider activity totals ~$275K in gross value, with net selling of ~$167K — immaterial relative to company size.
Risk Factors
- 10% owner Zeff Capital, LP selling ~$221K may indicate reduced conviction or portfolio rebalancing.
- Director purchases are small in absolute terms and may be routine diversification.
- OTC-listed stock has lower liquidity, amplifying impact of any insider moves on price.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-BUKS-1784246456983 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 20d ago | 8-K | $4.40 $4.32 | ▼ −1.82% | ▼ −1.39% | $4.91 (+11.59%) |
Sep 30, 2026 27d ago | 8-K | $4.03 $4.14 | ▲ +2.73% | ▲ +2.55% | $4.91 (+21.84%) |
Sep 21, 2026 5w ago | Insider Cluster | $4.09 $4.11 | ▲ +0.49% | ▲ +1.21% | $4.91 (+20.05%) |
Sep 21, 2026 5w ago | Insider Cluster | $4.09 $4.11 | ▲ +0.49% | ▲ +1.21% | $4.91 (+20.05%) |
Sep 11, 2026 6w ago | 8-K | $4.25 $4.02 | ▼ −5.41% | ▼ −4.97% | $4.91 (+15.53%) |
Aug 20, 2026 9w ago | 8-K | $4.25 $4.11 | ▼ −3.29% | ▼ −3.70% | $4.91 (+15.53%) |
Jul 16, 2026 14w ago | Insider Cluster | $4.86 $4.78 | ▼ −1.65% | ▼ −1.48% | $4.91 (+1.03%) |
Jul 14, 2026 14w ago | Insider Cluster | $4.78 $4.80 | ▲ +0.42% | ▲ +0.96% | $4.91 (+2.72%) |
Jul 14, 2026 14w ago | Insider Cluster | $4.78 $4.80 | ▲ +0.42% | ▲ +0.96% | $4.91 (+2.72%) |
Jul 8, 2026 15w ago | 8-K | $4.25 $4.37 | ▲ +2.82% | ▲ +1.98% | $4.91 (+15.53%) |
US Market Status
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