Intech Investment Management LLC Increases Position in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Intech Investment Management LLC increased its position in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) by 55.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,742 shares of the company’s stock after purchasing an additional 9,887 shares during the period. Intech Investment Management LLC’s holdings in Blade Air Mobility were worth $118,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BLDE. Cobblestone Capital Advisors LLC NY bought a new stake in Blade Air Mobility during the third quarter valued at about $35,000. Zacks Investment Management purchased a new position in Blade Air Mobility in the 3rd quarter worth approximately $89,000. SG Americas Securities LLC boosted its stake in Blade Air Mobility by 30.0% in the 4th quarter. SG Americas Securities LLC now owns 22,970 shares of the company’s stock worth $98,000 after purchasing an additional 5,297 shares during the period. Stifel Financial Corp grew its holdings in Blade Air Mobility by 18.9% during the 3rd quarter. Stifel Financial Corp now owns 35,755 shares of the company’s stock valued at $105,000 after buying an additional 5,683 shares in the last quarter. Finally, Wolverine Trading LLC bought a new stake in shares of Blade Air Mobility during the third quarter valued at approximately $119,000. Hedge funds and other institutional investors own 47.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital began coverage on shares of Blade Air Mobility in a report on Wednesday, February 26th. They set a “buy” rating and a $6.50 price objective for the company.

Blade Air Mobility Stock Performance

BLDE stock opened at $2.97 on Friday. The firm has a market cap of $236.69 million, a PE ratio of -4.30 and a beta of 1.22. The firm has a fifty day moving average price of $3.51 and a 200 day moving average price of $3.66. Blade Air Mobility, Inc. has a fifty-two week low of $2.60 and a fifty-two week high of $5.17.

Insiders Place Their Bets

In related news, CFO William A. Heyburn sold 103,670 shares of Blade Air Mobility stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $5.02, for a total value of $520,423.40. Following the completion of the transaction, the chief financial officer now owns 1,223,120 shares in the company, valued at approximately $6,140,062.40. This trade represents a 7.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 18.00% of the company’s stock.

Blade Air Mobility Profile

Blade Air Mobility, Inc provides air transportation alternatives to the congested ground routes in the United States. It provides its services through charter and by-the-seat flights using helicopters, jets, turboprops, and amphibious seaplanes. The company was founded in 2014 and is headquartered in New York, New York.