Intellectus Partners LLC Reduces Stock Position in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Intellectus Partners LLC cut its stake in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) by 4.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 189,700 shares of the company’s stock after selling 7,850 shares during the period. Intellectus Partners LLC owned about 0.24% of Blade Air Mobility worth $558,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BLDE. CWM LLC grew its holdings in shares of Blade Air Mobility by 764.5% in the second quarter. CWM LLC now owns 7,374 shares of the company’s stock worth $26,000 after acquiring an additional 6,521 shares during the period. Sei Investments Co. bought a new stake in shares of Blade Air Mobility during the 2nd quarter valued at about $38,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Blade Air Mobility during the 2nd quarter valued at about $40,000. 1620 Investment Advisors Inc. bought a new position in shares of Blade Air Mobility in the 2nd quarter worth approximately $50,000. Finally, SG Americas Securities LLC bought a new position in shares of Blade Air Mobility in the 3rd quarter worth approximately $52,000. 47.36% of the stock is currently owned by hedge funds and other institutional investors.

Blade Air Mobility Stock Performance

Shares of Blade Air Mobility stock opened at $3.16 on Friday. The stock has a market cap of $246.27 million, a P/E ratio of -4.58 and a beta of 1.05. The stock’s fifty day moving average is $3.40 and its 200 day moving average is $3.30. Blade Air Mobility, Inc. has a one year low of $2.45 and a one year high of $4.24.

Insider Transactions at Blade Air Mobility

In other news, CEO Robert S. Wiesenthal sold 2,100,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $3.22, for a total value of $6,762,000.00. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Melissa M. Tomkiel sold 44,621 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $3.40, for a total value of $151,711.40. Following the completion of the transaction, the general counsel now directly owns 1,173,003 shares of the company’s stock, valued at approximately $3,988,210.20. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,157,253 shares of company stock valued at $6,949,713 over the last quarter. 17.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their target price on shares of 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 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.