First Eagle Investment Management LLC Makes New Investment in Blade Air Mobility, Inc. (NASDAQ:BLDE)

First Eagle Investment Management LLC acquired a new position in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 535,954 shares of the company’s stock, valued at approximately $2,278,000. First Eagle Investment Management LLC owned approximately 0.68% of Blade Air Mobility as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its position in Blade Air Mobility by 11.6% during the 4th quarter. ARK Investment Management LLC now owns 8,051,099 shares of the company’s stock worth $34,217,000 after purchasing an additional 833,848 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Blade Air Mobility by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,375,295 shares of the company’s stock valued at $4,044,000 after acquiring an additional 52,274 shares in the last quarter. State Street Corp grew its holdings in shares of Blade Air Mobility by 2.5% during the 3rd quarter. State Street Corp now owns 1,280,842 shares of the company’s stock valued at $3,766,000 after acquiring an additional 31,313 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Blade Air Mobility by 15.4% during the 3rd quarter. Tidal Investments LLC now owns 655,616 shares of the company’s stock valued at $1,928,000 after acquiring an additional 87,496 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Blade Air Mobility by 610.0% during the 3rd quarter. Cerity Partners LLC now owns 303,439 shares of the company’s stock valued at $892,000 after acquiring an additional 260,699 shares in the last quarter. 47.36% of the stock is currently owned by hedge funds and other institutional investors.

Blade Air Mobility Trading Up 3.6 %

BLDE stock opened at $3.14 on Friday. Blade Air Mobility, Inc. has a 1 year low of $2.45 and a 1 year high of $5.17. The company has a fifty day simple moving average of $3.70 and a 200 day simple moving average of $3.66. The firm has a market cap of $245.91 million, a PE ratio of -4.55 and a beta of 1.22.

Insider Activity at Blade Air Mobility

In related news, CFO William A. Heyburn sold 103,670 shares of Blade Air Mobility stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.02, for a total value of $520,423.40. Following the completion of the sale, the chief financial officer now owns 1,223,120 shares of the company’s stock, valued at approximately $6,140,062.40. The trade was a 7.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

About Blade Air Mobility

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.