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

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 130,898 shares of the company’s stock, valued at approximately $1,776,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.35% of Unusual Machines at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its stake in shares of Unusual Machines by 67.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after purchasing an additional 1,218 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Unusual Machines in the 3rd quarter valued at approximately $38,000. Wexford Capital LP acquired a new stake in shares of Unusual Machines in the 3rd quarter valued at approximately $40,000. CIBC Private Wealth Group LLC boosted its stake in shares of Unusual Machines by 133.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,000 shares of the company’s stock valued at $106,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in shares of Unusual Machines in the 3rd quarter valued at approximately $76,000.

Unusual Machines Trading Up 14.3%

UMAC opened at $15.34 on Tuesday. The company’s 50 day moving average is $15.17 and its 200-day moving average is $13.46. Unusual Machines, Inc. has a 1-year low of $4.67 and a 1-year high of $23.38. The company has a market cap of $597.65 million, a P/E ratio of -18.26 and a beta of 14.32.

Insider Buying and Selling

In related news, President Andrew Ross Camden sold 9,625 shares of Unusual Machines stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $18.57, for a total transaction of $178,736.25. Following the sale, the president directly owned 356,375 shares in the company, valued at $6,617,883.75. This trade represents a 2.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Stacy Rochelle Wright sold 13,750 shares of Unusual Machines stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $18.57, for a total transaction of $255,337.50. Following the sale, the executive owned 96,250 shares in the company, valued at approximately $1,787,362.50. This represents a 12.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,768 shares of company stock worth $666,037 in the last ninety days. Company insiders own 7.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Unusual Machines in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Unusual Machines has an average rating of “Buy” and an average price target of $20.00.

Unusual Machines 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.