Sei Investments Co. Sells 37,114 Shares of Unusual Machines, Inc. $UMAC

Sei Investments Co. cut its position in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) by 18.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 165,485 shares of the company’s stock after selling 37,114 shares during the quarter. Sei Investments Co.’s holdings in Unusual Machines were worth $2,052,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in UMAC. Granahan Investment Management LLC bought a new position in shares of Unusual Machines during the 4th quarter worth approximately $14,708,000. State Street Corp grew its holdings in shares of Unusual Machines by 698.4% in the fourth quarter. State Street Corp now owns 966,184 shares of the company’s stock valued at $12,309,000 after acquiring an additional 845,173 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Unusual Machines in the fourth quarter valued at approximately $2,521,000. Concentric Capital Strategies LP purchased a new stake in shares of Unusual Machines during the fourth quarter valued at approximately $2,052,000. Finally, UBS Group AG lifted its holdings in Unusual Machines by 410.0% during the fourth quarter. UBS Group AG now owns 200,329 shares of the company’s stock worth $2,552,000 after acquiring an additional 161,048 shares during the period.

Analyst Upgrades and Downgrades

UMAC has been the topic of several research analyst reports. Needham & Company LLC boosted their price objective on Unusual Machines from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday. HC Wainwright began coverage on Unusual Machines in a research report on Wednesday, July 15th. They set a “buy” rating and a $42.00 target price for the company. National Bank Financial set a $42.00 price target on shares of Unusual Machines in a report on Wednesday, July 15th. Finally, Roth Capital increased their price target on shares of Unusual Machines to $40.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Unusual Machines presently has a consensus rating of “Buy” and an average target price of $36.80.

Insider Buying and Selling

In other Unusual Machines news, President Andrew Ross Camden sold 100,000 shares of Unusual Machines stock in a transaction dated Thursday, June 4th. The stock was 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 of the company’s stock, valued at $7,414,837.50. The trade was a 28.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian Joseph Hoff sold 150,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $17.71, for a total value of $2,656,500.00. Following the sale, the chief financial officer owned 352,650 shares in the company, valued at approximately $6,245,431.50. This represents a 29.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 280,000 shares of company stock valued at $6,477,200. Corporate insiders own 7.50% of the company’s stock.

Unusual Machines Price Performance

Shares of UMAC stock opened at $26.11 on Monday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -100.42 and a beta of 14.92. The company’s fifty day simple moving average is $22.41 and its two-hundred day simple moving average is $17.78. Unusual Machines, Inc. has a 1 year low of $7.24 and a 1 year high of $34.36.

Unusual Machines (NYSEAMERICAN:UMAC) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). The firm had revenue of $16.72 million during the quarter, compared to analyst estimates of $9.20 million. Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%. Equities research analysts anticipate that Unusual Machines, Inc. will post -0.72 EPS for the current year.

About Unusual Machines

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.