Counterpoint Mutual Funds LLC Invests $817,000 in Unusual Machines, Inc. $UMAC

Counterpoint Mutual Funds LLC purchased a new stake in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 65,909 shares of the company’s stock, valued at approximately $817,000.

A number of other large investors have also recently added to or reduced their stakes in UMAC. BlueCrest Capital Management Ltd purchased a new stake in Unusual Machines during the 3rd quarter worth approximately $2,168,000. Tudor Investment Corp ET AL boosted its position in Unusual Machines by 201.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after buying an additional 806,359 shares during the period. FNY Investment Advisers LLC grew its stake in shares of Unusual Machines by 293.4% in the fourth quarter. FNY Investment Advisers LLC now owns 120,001 shares of the company’s stock worth $1,528,000 after acquiring an additional 89,500 shares in the last quarter. Moody National Bank Trust Division acquired a new position in shares of Unusual Machines in the fourth quarter worth $549,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Unusual Machines during the fourth quarter worth $1,776,000.

Insider Transactions at Unusual Machines

In related news, Director Jeffrey M. Thompson sold 15,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $27.42, for a total value of $411,300.00. Following the transaction, the director owned 4,779,392 shares of the company’s stock, valued at $131,050,928.64. This represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 value of $2,656,500.00. Following the completion of 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. 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. In the last three months, insiders sold 280,000 shares of company stock valued at $6,477,200. Insiders own 7.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Roth Mkm increased their price objective on Unusual Machines to $40.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Needham & Company LLC upped their price target on Unusual Machines from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $30.00.

Unusual Machines Price Performance

Shares of NYSEAMERICAN:UMAC opened at $22.08 on Friday. Unusual Machines, Inc. has a fifty-two week low of $7.24 and a fifty-two week high of $34.36. The firm’s 50 day moving average price is $20.34 and its 200 day moving average price is $16.50. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -52.57 and a beta of 14.84.

Unusual Machines (NYSEAMERICAN:UMAC) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.21 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $5.54 million. On average, equities analysts anticipate that Unusual Machines, Inc. will post -0.72 EPS for the current 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.