First Eagle Investment Management LLC Invests $2.28 Million in Blade Air Mobility, Inc. (NASDAQ:BLDE)

First Eagle Investment Management LLC bought a new stake in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 535,954 shares of the company's stock, valued at approximately $2,278,000. First Eagle Investment Management LLC owned about 0.68% of Blade Air Mobility as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC bought a new position in Blade Air Mobility during the third quarter valued at $52,000. Charles Schwab Investment Management Inc. raised its position in shares of Blade Air Mobility by 6.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 170,117 shares of the company's stock valued at $500,000 after buying an additional 10,272 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Blade Air Mobility by 610.0% in 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 during the last quarter. Cobblestone Capital Advisors LLC NY purchased a new position in Blade Air Mobility in the third quarter worth about $35,000. Finally, Maven Securities LTD bought a new stake in Blade Air Mobility during the third quarter worth approximately $206,000. 47.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO William A. Heyburn sold 103,670 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.02, for a total transaction of $520,423.40. Following the transaction, the chief financial officer now owns 1,223,120 shares of the company's stock, valued at approximately $6,140,062.40. This represents a 7.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 17.50% of the stock is currently owned by corporate insiders.

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Blade Air Mobility Stock Performance

BLDE stock traded down $0.01 during mid-day trading on Thursday, reaching $3.01. 446,466 shares of the stock traded hands, compared to its average volume of 717,789. The business has a 50-day moving average price of $3.61 and a two-hundred day moving average price of $3.66. The stock has a market capitalization of $235.73 million, a PE ratio of -4.36 and a beta of 1.22. Blade Air Mobility, Inc. has a one year low of $2.60 and a one year high of $5.17.

Analysts Set New Price Targets

Separately, Lake Street Capital began coverage on Blade Air Mobility in a research note on Wednesday, February 26th. They issued a "buy" rating and a $6.50 price objective for the company.

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.