DLD Asset Management LP Invests $496,000 in Unusual Machines, Inc. $UMAC

DLD Asset Management LP bought a new position in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 40,000 shares of the company’s stock, valued at approximately $496,000. DLD Asset Management LP owned 0.10% of Unusual Machines at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Unusual Machines by 22.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,652 shares of the company’s stock valued at $148,000 after acquiring an additional 2,116 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Unusual Machines by 54.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock worth $79,000 after purchasing an additional 2,169 shares in the last quarter. Wexford Capital LP bought a new position in Unusual Machines during the 3rd quarter valued at about $40,000. NFSG Corp bought a new stake in Unusual Machines during the first quarter worth about $37,000. Finally, IFC & Insurance Marketing Inc. grew its stake in Unusual Machines by 43.6% during the first quarter. IFC & Insurance Marketing Inc. now owns 10,821 shares of the company’s stock worth $134,000 after buying an additional 3,283 shares during the last quarter.

Wall Street Analysts Forecast Growth

UMAC has been the topic of several recent analyst reports. National Bank Financial set a $42.00 target price on Unusual Machines in a report on Wednesday, July 15th. HC Wainwright assumed coverage on Unusual Machines in a report on Wednesday, July 15th. They set a “buy” rating and a $42.00 price target for the company. Roth Capital raised their price target on Unusual Machines to $40.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Needham & Company LLC lifted their price objective on Unusual Machines from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $34.80.

Insider Buying and Selling at Unusual Machines

In other news, President Andrew Ross Camden sold 100,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $30.05, for a total value of $3,005,000.00. Following the transaction, the president owned 246,750 shares of the company’s stock, valued at approximately $7,414,837.50. This trade represents a 28.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian Joseph Hoff sold 150,000 shares of Unusual Machines stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $17.71, for a total transaction of $2,656,500.00. Following the sale, the chief financial officer owned 352,650 shares of the company’s stock, valued at approximately $6,245,431.50. This represents a 29.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 280,000 shares of company stock worth $6,477,200. Company insiders own 7.50% of the company’s stock.

Unusual Machines Stock Up 0.7%

UMAC stock opened at $19.67 on Thursday. Unusual Machines, Inc. has a twelve month low of $7.24 and a twelve month high of $34.36. The company has a market cap of $940.03 million, a P/E ratio of -46.83 and a beta of 14.84. The business has a fifty day moving average of $21.51 and a 200-day moving average of $17.24.

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

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.