Rhumbline Advisers Acquires 7,037 Shares of Blade Air Mobility, Inc. (NASDAQ:BLDE)

Rhumbline Advisers boosted its stake in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 140,779 shares of the company’s stock after acquiring an additional 7,037 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Blade Air Mobility worth $598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLDE. Cobblestone Capital Advisors LLC NY bought a new position in shares of Blade Air Mobility in the 3rd quarter valued at about $35,000. Intech Investment Management LLC acquired a new position in Blade Air Mobility in the third quarter valued at approximately $52,000. Zacks Investment Management bought a new position in Blade Air Mobility in the third quarter valued at approximately $89,000. SG Americas Securities LLC grew its holdings in Blade Air Mobility by 30.0% during the 4th quarter. SG Americas Securities LLC now owns 22,970 shares of the company’s stock worth $98,000 after acquiring an additional 5,297 shares during the period. Finally, Stifel Financial Corp raised its position in shares of 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 acquiring an additional 5,683 shares during the last quarter. Institutional investors and hedge funds own 47.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Blade Air Mobility Price Performance

Shares of NASDAQ BLDE opened at $3.12 on Friday. Blade Air Mobility, Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $5.17. The stock has a market capitalization of $244.34 million, a price-to-earnings ratio of -4.52 and a beta of 1.22. The business has a 50-day moving average of $3.87 and a 200-day moving average of $3.66.

Insider Buying and Selling

In other Blade Air Mobility news, CFO William A. Heyburn sold 39,285 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.02, for a total transaction of $197,210.70. Following the transaction, the chief financial officer now owns 1,336,826 shares in the company, valued at $6,710,866.52. This represents a 2.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Melissa M. Tomkiel sold 22,486 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.01, for a total value of $112,654.86. Following the transaction, the general counsel now owns 1,039,140 shares in the company, valued at approximately $5,206,091.40. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,441 shares of company stock valued at $830,289. 17.50% of the stock is owned by insiders.

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.