Since I last posted on Swenson, he has filed two more Form 4's (buys on Feb 14 through Feb 21) reporting the acquisition of another 10,792 shares increasing his total to 350,130. He will likely stop when he reaches 366,942 which is just under 15% based on the 2,446,286 shares outstanding as reported in the most recent 10--Q.
If he made that last trade on Friday (at $9.68) that demonstrates some aggressive buying. I take all of this as a positive signal, since Swenson has had time ow o evaluate the Company's prospects from both the outside and the inside.
Based upon the Form 13G/A that Swenson filed today (February 28, 2012), he is up to 362,700 shares, which is only 3,242 shares short of the limit of "under 15%". He bought 1,138 shares on 2/25 and 12,432 shares on 2/27.
It would appear that Swenson will not be providing much future price support for AIRT shares unless the company revises its poison pill to raise his limit.
Swenson is no fool. Logic dictates that he believes that the stock is very cheap at this level. I agree with him . I have my stake and I still have not sold a share. I look forward to receiving the dividend every year.