Moody National Bank Trust Division Invests $549,000 in Unusual Machines, Inc. $UMAC

Moody National Bank Trust Division bought a new position in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the 4th quarter, HoldingsChannel.com reports. The firm bought 43,100 shares of the company’s stock, valued at approximately $549,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL increased its stake in Unusual Machines by 201.0% in the third quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after purchasing an additional 806,359 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Unusual Machines by 13.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,162,795 shares of the company’s stock worth $17,558,000 after buying an additional 136,696 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 105,020 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Unusual Machines in the 3rd quarter valued at $2,652,000. Finally, Jump Financial LLC acquired a new position in shares of Unusual Machines in the 2nd quarter valued at $1,251,000.

Unusual Machines Stock Performance

Shares of NYSEAMERICAN:UMAC opened at $13.44 on Friday. Unusual Machines, Inc. has a one year low of $4.45 and a one year high of $23.38. The stock has a market capitalization of $523.62 million, a price-to-earnings ratio of -16.00 and a beta of 22.23. The company has a 50-day simple moving average of $15.42 and a 200-day simple moving average of $13.29.

Insider Activity at Unusual Machines

In related news, CRO Stacy Rochelle Wright sold 13,750 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $18.57, for a total value of $255,337.50. Following the transaction, the executive owned 96,250 shares in the company, valued at $1,787,362.50. The trade was a 12.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Andrew Ross Camden sold 9,625 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 value of $178,736.25. Following the sale, the president directly owned 356,375 shares of the company’s stock, valued at approximately $6,617,883.75. This represents a 2.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,942 shares of company stock worth $710,164 in the last quarter. Company insiders own 7.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Unusual Machines in a research report on Monday, March 9th. JonesTrading began coverage on shares of Unusual Machines in a research note on Monday, December 1st. They issued a “buy” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Unusual Machines has an average rating of “Buy” and an average target price of $20.00.

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.