In a recent transaction, Joshua Horowitz, a director at BK Technologies Corp (NYSEAMERICAN:BKTI), acquired additional shares in the company, reinforcing his stake in the communications equipment manufacturer. The purchase, which took place over two separate transactions, amounted to a total of $57,746.
On May 17, Horowitz bought 2,632 shares at a weighted average price of $13.8615, with prices ranging from $13.70 to $13.95 per share. Following this acquisition, he further expanded his holdings on May 20, purchasing 1,525 shares at an average price of $13.9429, within a price range of $13.76 to $13.96 per share.
After these transactions, Horowitz's direct and indirect ownership in BK Technologies Corp, through Palm Global Small Cap Master Fund LP, has increased significantly. It is noted that Horowitz, by virtue of his roles within the company and its managing entities, may be deemed to have beneficial ownership of the shares owned by Palm Global.
This move by a key insider at BK Technologies Corp is often seen as a sign of confidence in the company's future prospects. The details of these transactions were made public in a filing with the Securities and Exchange Commission. As of now, Horowitz holds a substantial number of shares, both directly and indirectly, reflecting his vested interest in the company's success.
InvestingPro Insights
Amidst the insider trading activity at BK Technologies Corp (NYSEAMERICAN:BKTI), where director Joshua Horowitz has bolstered his stake in the company, InvestingPro data and tips provide a deeper understanding of the firm's financial health and stock performance. As Horowitz demonstrates confidence in BKTI, investors may find the following metrics and tips from InvestingPro particularly insightful:
According to InvestingPro data, BK Technologies Corp has experienced a significant 20.05% price total return over the last three months, suggesting a strong recent performance in the stock market. Additionally, the company's revenue has grown by 16.67% over the last twelve months as of Q1 2024, indicating a solid top-line growth trajectory. However, it's worth noting that the company is not currently profitable, with a negative P/E ratio of -33.58.
InvestingPro Tips highlight that BKTI operates with a moderate level of debt and has liquid assets that exceed short-term obligations, which could be reassuring to investors concerned about the company's financial stability. On the other hand, BKTI is trading at a high EBITDA valuation multiple, which may warrant caution for value-focused investors. It's also important for potential shareholders to be aware that BKTI does not pay a dividend, which may influence investment decisions for those seeking income-generating stocks.
For those looking to delve further into BKTI's investment profile, InvestingPro offers additional tips on the company's performance and valuation. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a wealth of financial data and expert analysis. There are currently 7 additional InvestingPro Tips available for BKTI, ranging from technical indicators to fundamental analysis, which can be found at https://www.investing.com/pro/BKTI.
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