Wolverine Trading LLC Invests $119,000 in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Wolverine Trading LLC bought a new stake in Blade Air Mobility, Inc. (NASDAQ:BLDE) in the 3rd quarter, Holdings Channel reports. The firm bought 40,267 shares of the company’s stock, valued at approximately $119,000.

Other institutional investors have also added to or reduced their stakes in the company. ARK Investment Management LLC raised its stake in Blade Air Mobility by 12.0% in the third 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 during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in 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 valued at $14,130,000 after acquiring an additional 381,308 shares during the period. GSA Capital Partners LLP lifted its holdings in Blade Air Mobility by 245.6% during the 3rd quarter. GSA Capital Partners LLP now owns 378,240 shares of the company’s stock valued at $1,112,000 after purchasing an additional 268,802 shares during the last quarter. Cerity Partners LLC boosted its position in Blade Air Mobility by 610.0% during the third quarter. Cerity Partners LLC now owns 303,439 shares of the company’s stock worth $892,000 after purchasing an additional 260,699 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Blade Air Mobility by 24.0% in the second quarter. Dimensional Fund Advisors LP now owns 937,856 shares of the company’s stock valued at $3,264,000 after purchasing an additional 181,630 shares during the last quarter. 47.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Blade Air Mobility Trading Up 2.0 %

Blade Air Mobility stock opened at $4.12 on Tuesday. The company has a market capitalization of $322.65 million, a price-to-earnings ratio of -5.97 and a beta of 1.13. Blade Air Mobility, Inc. has a 12 month low of $2.45 and a 12 month high of $5.17. The stock’s 50 day moving average is $3.80 and its 200-day moving average is $3.40.

Insider Activity at Blade Air Mobility

In other news, General Counsel Melissa M. Tomkiel sold 44,621 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,988,210.20. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William A. Heyburn sold 23,815 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $5.02, for a total value of $119,551.30. Following the completion of the sale, the chief financial officer now owns 1,376,111 shares of the company’s stock, valued at approximately $6,908,077.22. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,341,584 shares of company stock worth $7,845,126 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.