FNY Investment Advisers LLC Purchases 89,500 Shares of Unusual Machines, Inc. $UMAC

FNY Investment Advisers LLC raised its holdings in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) by 293.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,001 shares of the company’s stock after purchasing an additional 89,500 shares during the quarter. FNY Investment Advisers LLC owned approximately 0.33% of Unusual Machines worth $1,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UMAC. Compagnie Lombard Odier SCmA purchased a new position in shares of Unusual Machines in the fourth quarter worth about $261,000. Moody National Bank Trust Division purchased a new stake in shares of Unusual Machines during the 4th quarter valued at approximately $549,000. Tudor Investment Corp ET AL boosted its holdings 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 worth $18,233,000 after buying an additional 806,359 shares during the period. Allworth Financial LP boosted its holdings in Unusual Machines by 105.9% in the 3rd quarter. Allworth Financial LP now owns 29,948 shares of the company’s stock worth $452,000 after buying an additional 15,405 shares during the period. Finally, BlueCrest Capital Management Ltd purchased a new position in Unusual Machines in the 3rd quarter valued at approximately $2,168,000.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Unusual Machines in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Unusual Machines has a consensus rating of “Buy” and an average target price of $20.00.

Insider Transactions at Unusual Machines

In related news, CRO Stacy Rochelle Wright sold 13,750 shares of the company’s 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 $255,337.50. Following the sale, the executive owned 96,250 shares of the company’s stock, valued at approximately $1,787,362.50. This represents a 12.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian Joseph Hoff sold 11,413 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $18.59, for a total transaction of $212,167.67. Following the completion of the sale, the chief financial officer owned 514,062 shares in the company, valued at $9,556,412.58. This represents a 2.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 35,768 shares of company stock valued at $666,037. 7.50% of the stock is currently owned by corporate insiders.

Unusual Machines Stock Up 10.2%

UMAC stock opened at $13.60 on Friday. The firm has a market capitalization of $529.86 million, a PE ratio of -16.19 and a beta of 19.89. Unusual Machines, Inc. has a twelve month low of $4.45 and a twelve month high of $23.38. The stock has a 50-day simple moving average of $14.82 and a two-hundred day simple moving average of $13.37.

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.