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

Sei Investments Co. lessened its position in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) by 18.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 165,485 shares of the company’s stock after selling 37,114 shares during the quarter. Sei Investments Co. owned approximately 0.42% of Unusual Machines worth $2,052,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in UMAC. NFSG Corp bought a new stake in shares of Unusual Machines in the 1st quarter valued at $37,000. Wexford Capital LP bought a new position in Unusual Machines during the third quarter worth $40,000. Bank of America Corp DE raised its stake in Unusual Machines by 7,372.6% during the second quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock worth $61,000 after buying an additional 7,004 shares during the last quarter. Ankerstar Wealth LLC acquired a new position in Unusual Machines in the fourth quarter valued at $64,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Unusual Machines by 54.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock valued at $79,000 after buying an additional 2,169 shares during the period.

Unusual Machines Stock Performance

NYSEAMERICAN UMAC opened at $26.11 on Monday. The company has a market cap of $1.30 billion, a P/E ratio of -100.42 and a beta of 14.92. The company has a fifty day simple moving average of $22.41 and a 200 day simple moving average of $17.78. Unusual Machines, Inc. has a 12-month low of $7.24 and a 12-month high of $34.36.

Unusual Machines (NYSEAMERICAN:UMAC) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.16). The firm had revenue of $16.72 million for the quarter, compared to analyst estimates of $9.20 million. Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. Sell-side analysts predict that Unusual Machines, Inc. will post -0.72 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on UMAC. National Bank Financial set a $42.00 price target on Unusual Machines in a report on Wednesday, July 15th. Needham & Company LLC upped their target price on Unusual Machines from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday. HC Wainwright started coverage on Unusual Machines in a research note on Wednesday, July 15th. They set a “buy” rating and a $42.00 target price for the company. Finally, Roth Capital lifted their target price on Unusual Machines to $40.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $36.80.

Insider Activity at Unusual Machines

In other news, President Andrew Ross Camden sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was 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 in the company, valued at $7,414,837.50. This trade represents a 28.84% decrease in their ownership of the stock. The transaction 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 shares were sold at an average price of $17.71, for a total value of $2,656,500.00. Following the transaction, the chief financial officer directly owned 352,650 shares in the company, valued at approximately $6,245,431.50. The trade was a 29.84% decrease in their position. 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. 7.50% of the stock is owned by corporate insiders.

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.