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

Intellectus Partners LLC lowered its stake in Blade Air Mobility, Inc. (NASDAQ:BLDE) by 4.0% during the 3rd quarter, Holdings Channel reports. The firm owned 189,700 shares of the company’s stock after selling 7,850 shares during the quarter. Intellectus Partners LLC’s holdings in Blade Air Mobility were worth $558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BLDE. CWM LLC grew its stake in shares of Blade Air Mobility by 764.5% in the 2nd quarter. CWM LLC now owns 7,374 shares of the company’s stock worth $26,000 after buying an additional 6,521 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Blade Air Mobility by 70.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 21,850 shares of the company’s stock valued at $62,000 after acquiring an additional 9,000 shares during the last quarter. Sei Investments Co. purchased a new position in Blade Air Mobility in the second quarter worth about $38,000. EverSource Wealth Advisors LLC bought a new stake in Blade Air Mobility during the second quarter worth approximately $40,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Blade Air Mobility during the second quarter worth approximately $50,000. Institutional investors own 47.36% of the company’s stock.

Blade Air Mobility Stock Down 7.6 %

BLDE stock opened at $3.16 on Friday. The firm’s fifty day simple moving average is $3.40 and its two-hundred day simple moving average is $3.30. The stock has a market capitalization of $246.27 million, a price-to-earnings ratio of -4.58 and a beta of 1.05. Blade Air Mobility, Inc. has a twelve month low of $2.45 and a twelve month high of $4.24.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Blade Air Mobility news, CEO Robert S. Wiesenthal sold 2,100,000 shares of the firm’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 transaction, the chief executive officer now directly owns 4,812,892 shares in the company, valued at $15,497,512.24. This trade represents a 30.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Melissa M. Tomkiel sold 44,621 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $3.40, for a total transaction of $151,711.40. Following the transaction, the general counsel now directly owns 1,173,003 shares in the company, valued at $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 in the last ninety days. 17.50% of the stock is owned by company insiders.

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.