DLD Asset Management LP Acquires New Shares in Unusual Machines, Inc. $UMAC

DLD Asset Management LP acquired a new stake in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the first quarter, Holdings Channel reports. The institutional investor acquired 40,000 shares of the company’s stock, valued at approximately $496,000.

Several other hedge funds have also recently added to or reduced their stakes in UMAC. Cetera Investment Advisers boosted its holdings in Unusual Machines by 23.1% during the first quarter. Cetera Investment Advisers now owns 17,884 shares of the company’s stock worth $222,000 after buying an additional 3,353 shares during the last quarter. Yorkville Advisors Global LP bought a new stake in shares of Unusual Machines in the 1st quarter valued at about $1,692,000. Wealthfront Advisers LLC acquired a new stake in shares of Unusual Machines in the 1st quarter valued at approximately $185,000. NFSG Corp acquired a new stake in shares of Unusual Machines in the 1st quarter valued at approximately $37,000. Finally, Counterpoint Mutual Funds LLC bought a new position in Unusual Machines during the 1st quarter worth approximately $817,000.

Insiders Place Their Bets

In related news, President Andrew Ross Camden sold 100,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $30.05, for a total transaction of $3,005,000.00. Following the completion of the transaction, the president owned 246,750 shares in the company, valued at approximately $7,414,837.50. This represents a 28.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Joseph Hoff sold 150,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $17.71, for a total transaction of $2,656,500.00. Following the completion of the transaction, the chief financial officer directly owned 352,650 shares of the company’s stock, valued at approximately $6,245,431.50. This trade represents a 29.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 280,000 shares of company stock valued at $6,477,200 in the last quarter. 7.50% of the stock is currently owned by insiders.

Unusual Machines Price Performance

Shares of Unusual Machines stock opened at $19.67 on Thursday. The firm has a market cap of $940.03 million, a price-to-earnings ratio of -46.83 and a beta of 14.84. The stock’s 50-day moving average is $21.51 and its 200-day moving average is $17.24. Unusual Machines, Inc. has a one year low of $7.24 and a one year high of $34.36.

Unusual Machines (NYSEAMERICAN:UMAC) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.15). Unusual Machines had a negative return on equity of 11.83% and a negative net margin of 32.71%.The firm had revenue of $8.10 million for the quarter, compared to the consensus estimate of $5.54 million. On average, equities analysts expect that Unusual Machines, Inc. will post -0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UMAC. HC Wainwright started coverage on shares of Unusual Machines in a report on Wednesday, July 15th. They set a “buy” rating and a $42.00 price objective for the company. Roth Capital increased their target price on shares of Unusual Machines to $40.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Needham & Company LLC lifted their price target on shares of Unusual Machines from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Finally, National Bank Financial set a $42.00 price target on shares of Unusual Machines in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $34.80.

Unusual Machines Company Profile

Unusual Machines, Inc designs, manufactures, and sells ultra-low latency video goggles for drone pilots. It operates a drone-focused e-commerce marketplace. The company serves drone pilots, hobbyists, and recreational services. The company was formerly known as AerocarveUS Corporation and changed its name to Unusual Machines, Inc in July 2022. Unusual Machines, Inc was incorporated in 2019 and is based in Orlando, Florida.