Raymond James Financial Inc. Takes Position in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Raymond James Financial Inc. purchased a new position in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) in the 4th quarter, Holdings Channel.com reports. The firm purchased 195,976 shares of the company’s stock, valued at approximately $833,000.

Several other hedge funds have also recently added to or reduced their stakes in BLDE. SBI Securities Co. Ltd. acquired a new stake in Blade Air Mobility in the 4th quarter valued at about $201,000. ARK Investment Management LLC grew its position in shares of Blade Air Mobility by 11.6% in the fourth quarter. ARK Investment Management LLC now owns 8,051,099 shares of the company’s stock valued at $34,217,000 after purchasing an additional 833,848 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Blade Air Mobility by 3.1% in the fourth quarter. Bank of New York Mellon Corp now owns 138,561 shares of the company’s stock valued at $589,000 after purchasing an additional 4,118 shares during the last quarter. Rhumbline Advisers lifted its position in Blade Air Mobility by 5.3% during the fourth quarter. Rhumbline Advisers now owns 140,779 shares of the company’s stock worth $598,000 after buying an additional 7,037 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in Blade Air Mobility by 114.7% during the fourth quarter. Stratos Wealth Partners LTD. now owns 78,080 shares of the company’s stock worth $332,000 after buying an additional 41,720 shares during the last quarter. 47.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO William A. Heyburn sold 103,670 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $5.02, for a total transaction of $520,423.40. Following the completion of the sale, the chief financial officer now directly owns 1,223,120 shares of the company’s stock, valued at approximately $6,140,062.40. This trade represents a 7.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital began coverage on Blade Air Mobility in a research note on Wednesday, February 26th. They issued a “buy” rating and a $6.50 target price for the company.

Blade Air Mobility Price Performance

Shares of BLDE stock opened at $2.56 on Friday. The company has a market capitalization of $204.02 million, a PE ratio of -3.71 and a beta of 1.41. The firm’s 50-day moving average is $3.35 and its two-hundred day moving average is $3.65. Blade Air Mobility, Inc. has a 12 month low of $2.35 and a 12 month high of $5.17.

Blade Air Mobility Company 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.