Mitsubishi UFJ Asset Management Co. Ltd. Makes New $1.78 Million Investment in Unusual Machines, Inc. $UMAC

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the 4th quarter, HoldingsChannel reports. The firm purchased 130,898 shares of the company’s stock, valued at approximately $1,776,000.

Several other hedge funds have also recently added to or reduced their stakes in UMAC. Geode Capital Management LLC raised its holdings in Unusual Machines by 89.1% during the 2nd quarter. Geode Capital Management LLC now owns 222,927 shares of the company’s stock worth $1,911,000 after purchasing an additional 105,020 shares during the last quarter. Jump Financial LLC bought a new position in Unusual Machines during the 2nd quarter worth approximately $1,251,000. Bank of America Corp DE raised its holdings in Unusual Machines by 7,372.6% during the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock worth $61,000 after purchasing an additional 7,004 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Unusual Machines by 4,639.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,366 shares of the company’s stock worth $115,000 after purchasing an additional 13,084 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in Unusual Machines during the 3rd quarter worth approximately $76,000.

Insiders Place Their Bets

In other Unusual Machines news, CFO Brian Joseph Hoff sold 11,413 shares of Unusual Machines stock in a transaction on Monday, March 16th. The shares were sold at an average price of $18.59, for a total transaction of $212,167.67. Following the transaction, the chief financial officer directly owned 514,062 shares of the company’s stock, valued at $9,556,412.58. The trade was a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Andrew Ross Camden sold 9,625 shares of Unusual Machines stock in a transaction on Monday, March 16th. The stock was sold at an average price of $18.57, for a total transaction of $178,736.25. Following the transaction, the president directly owned 356,375 shares in the company, valued at $6,617,883.75. This represents a 2.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 35,768 shares of company stock valued at $666,037 in the last three months. 7.50% of the stock is currently owned by insiders.

Unusual Machines Price Performance

UMAC opened at $15.34 on Tuesday. The company has a market capitalization of $597.65 million, a price-to-earnings ratio of -18.26 and a beta of 14.32. The firm’s fifty day moving average price is $15.17 and its two-hundred day moving average price is $13.46. Unusual Machines, Inc. has a 1 year low of $4.67 and a 1 year high of $23.38.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Unusual Machines in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Unusual Machines presently has a consensus rating of “Buy” and an average target price of $20.00.

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.