Yorkville Advisors Global LP Buys New Position in Unusual Machines, Inc. $UMAC

Key Points

• Yorkville Advisors Global LP opened a new position in Unusual Machines during Q1, buying 136,446 shares worth about $1.69 million. The stake represented about 0.35% of the company and 1.0% of Yorkville’s portfolio.
• Unusual Machines reported mixed quarterly results, with EPS of $0.21 versus the $0.36 consensus estimate, but revenue of $8.10 million topped expectations. Analysts still expect the company to post a full-year loss of $0.72 per share.
• Wall Street sentiment remains bullish, with multiple firms raising price targets and the consensus rating set at “Buy” with an average target of $34.80. Meanwhile, insiders sold shares recently, including the CFO and a director, adding to last quarter’s total insider sales of 280,000 shares.

Yorkville Advisors Global LP bought a new stake in Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 136,446 shares of the company's stock, valued at approximately $1,692,000. Unusual Machines makes up 1.0% of Yorkville Advisors Global LP's portfolio, making the stock its 15th largest holding. Yorkville Advisors Global LP owned about 0.35% of Unusual Machines as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. FNY Investment Advisers LLC raised its holdings 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 valued at $1,528,000 after purchasing an additional 89,500 shares during the last quarter. Moody National Bank Trust Division acquired a new position in Unusual Machines during the fourth quarter worth $549,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Unusual Machines during the fourth quarter worth $1,776,000. Counterpoint Mutual Funds LLC acquired a new position in Unusual Machines during the first quarter worth $817,000. Finally, UBS Group AG grew its position in Unusual Machines by 410.0% in the fourth quarter. UBS Group AG now owns 200,329 shares of the company's stock valued at $2,552,000 after purchasing an additional 161,048 shares in the last quarter.

Unusual Machines Trading Up 0.7%

NYSEAMERICAN UMAC opened at $19.67 on Thursday. The company has a market cap of $940.03 million, a PE ratio of -46.83 and a beta of 14.84. Unusual Machines, Inc. has a 12 month low of $7.24 and a 12 month high of $34.36. The stock has a 50 day moving average of $21.51 and a 200-day moving average of $17.24.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $0.21 earnings per share 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 analyst estimates of $5.54 million. As a group, sell-side analysts predict that Unusual Machines, Inc. will post -0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on UMAC shares. Needham & Company LLC lifted their price target on shares of Unusual Machines from $22.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. National Bank Financial set a $42.00 price objective on shares of Unusual Machines in a research note on Wednesday, July 15th. HC Wainwright began coverage on Unusual Machines in a report on Wednesday, July 15th. They issued a "buy" rating and a $42.00 price objective for the company. Finally, Roth Capital lifted their target price on Unusual Machines to $40.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. One investment 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 MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $34.80.

Insider Activity

In other news, 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey M. Thompson sold 15,000 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $26.96, for a total transaction of $404,400.00. Following the completion of the sale, the director directly owned 4,794,392 shares in the company, valued at approximately $129,256,808.32. The trade was a 0.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 280,000 shares of company stock valued at $6,477,200 in the last quarter. Company insiders own 7.50% of the company's stock.

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.

Want to see what other hedge funds are holding UMAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.