Tudor Investment Corp ET AL Acquires 806,359 Shares of Unusual Machines, Inc. $UMAC

Tudor Investment Corp ET AL increased its holdings in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) by 201.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,207,460 shares of the company’s stock after acquiring an additional 806,359 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Unusual Machines were worth $18,233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its holdings in Unusual Machines by 67.7% during the third quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after buying an additional 1,218 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Unusual Machines during the 3rd quarter valued at $38,000. Wexford Capital LP purchased a new stake in shares of Unusual Machines in the 3rd quarter worth $40,000. CIBC Private Wealth Group LLC increased 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 worth $106,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in Unusual Machines in the 3rd quarter worth $76,000.

Unusual Machines Stock Down 20.1%

NYSEAMERICAN:UMAC opened at $14.87 on Friday. The business’s 50-day simple moving average is $15.51 and its two-hundred day simple moving average is $13.14. Unusual Machines, Inc. has a 52 week low of $4.45 and a 52 week high of $23.38. The stock has a market cap of $578.29 million, a PE ratio of -17.70 and a beta of 22.23.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on UMAC. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a report on Monday, March 9th. JonesTrading initiated coverage on Unusual Machines in a research note on Monday, December 1st. They issued a “buy” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $20.00.

Insider Buying and Selling

In other Unusual Machines news, President Andrew Ross Camden sold 9,625 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $18.57, for a total value of $178,736.25. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian Joseph Hoff sold 11,413 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 514,062 shares of the company’s stock, valued at approximately $9,556,412.58. This trade represents a 2.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 57,942 shares of company stock valued at $710,164. Corporate insiders own 7.50% of the company’s stock.

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.