Intech Investment Management LLC Invests $52,000 in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Intech Investment Management LLC bought a new position in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) during the third quarter, Holdings Channel.com reports. The fund bought 17,855 shares of the company’s stock, valued at approximately $52,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ARK Investment Management LLC raised its stake in shares of Blade Air Mobility by 12.0% in the 3rd quarter. ARK Investment Management LLC now owns 7,217,251 shares of the company’s stock valued at $21,219,000 after buying an additional 774,114 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Blade Air Mobility by 10.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,060,282 shares of the company’s stock worth $14,130,000 after buying an additional 381,308 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Blade Air Mobility by 245.6% during the 3rd quarter. GSA Capital Partners LLP now owns 378,240 shares of the company’s stock worth $1,112,000 after buying an additional 268,802 shares during the period. Dimensional Fund Advisors LP boosted its stake in Blade Air Mobility by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 937,856 shares of the company’s stock valued at $3,264,000 after buying an additional 181,630 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Blade Air Mobility by 42.4% in the second quarter. AQR Capital Management LLC now owns 546,630 shares of the company’s stock valued at $1,902,000 after acquiring an additional 162,867 shares during the period. 47.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Robert S. Wiesenthal sold 2,100,000 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $3.22, for a total transaction of $6,762,000.00. Following the completion of the sale, the chief executive officer now owns 4,812,892 shares in the company, valued at $15,497,512.24. The trade was a 30.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Melissa M. Tomkiel sold 89,242 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $4.38, for a total value of $390,879.96. Following the completion of the transaction, the general counsel now owns 1,083,761 shares in the company, valued at approximately $4,746,873.18. This represents a 7.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,292,445 shares of company stock valued at $7,571,262. Insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Blade Air Mobility Stock Performance

Shares of BLDE opened at $4.72 on Monday. Blade Air Mobility, Inc. has a 52-week low of $2.45 and a 52-week high of $5.17. The stock has a fifty day moving average price of $3.67 and a two-hundred day moving average price of $3.35. The company has a market cap of $369.62 million, a price-to-earnings ratio of -6.84 and a beta of 1.13.

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.