Intech Investment Management LLC Acquires New Shares in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Intech Investment Management LLC acquired a new position in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,855 shares of the company’s stock, valued at approximately $52,000.

Other hedge funds have also recently bought and sold shares of the company. ARK Investment Management LLC boosted its position in shares of Blade Air Mobility by 12.0% during the third quarter. ARK Investment Management LLC now owns 7,217,251 shares of the company’s stock worth $21,219,000 after buying an additional 774,114 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Blade Air Mobility by 10.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,060,282 shares of the company’s stock valued at $14,130,000 after buying an additional 381,308 shares in the last quarter. Vanguard Group Inc. grew its holdings in Blade Air Mobility by 1.0% during the first quarter. Vanguard Group Inc. now owns 2,967,500 shares of the company’s stock worth $8,457,000 after acquiring an additional 28,622 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Blade Air Mobility by 24.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 937,856 shares of the company’s stock valued at $3,264,000 after purchasing an additional 181,630 shares in the last quarter. Finally, Raymond James & Associates grew its position in Blade Air Mobility by 6.0% in the second quarter. Raymond James & Associates now owns 653,887 shares of the company’s stock worth $2,276,000 after buying an additional 37,243 shares during the last quarter. 47.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blade Air Mobility

In other Blade Air Mobility news, General Counsel Melissa M. Tomkiel sold 44,621 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $3.40, for a total value of $151,711.40. Following the completion of the sale, the general counsel now owns 1,173,003 shares in the company, valued at $3,988,210.20. This represents a 3.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert S. Wiesenthal sold 2,100,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $3.22, for a total transaction of $6,762,000.00. Following the transaction, the chief executive officer now owns 4,812,892 shares in the company, valued at approximately $15,497,512.24. This represents a 30.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,292,445 shares of company stock valued at $7,571,262 in the last three months. 17.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their target price on Blade Air Mobility from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th.

Blade Air Mobility Stock Performance

Shares of NASDAQ:BLDE opened at $4.72 on Monday. The firm has a 50 day simple moving average of $3.67 and a 200 day simple moving average of $3.35. Blade Air Mobility, Inc. has a 52 week low of $2.45 and a 52 week high of $5.17. The company has a market cap of $369.62 million, a PE ratio of -6.84 and a beta of 1.13.

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.