IQ EQ FUND MANAGEMENT IRELAND Ltd Acquires 122,368 Shares of Blade Air Mobility, Inc. (NASDAQ:BLDE)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Blade Air Mobility, Inc. by 78.4%, acquiring an additional 122,368 shares in the first quarter, bringing its total to 278,489 shares valued at approximately $760,000.
• Other institutional investors also boosted their positions in Blade Air Mobility, with notable increases from American Century Companies Inc. (10.8%), Wells Fargo & Company MN (27.8%), and Russell Investments Group Ltd. (148.1%).
• Blade Air Mobility's stock price opened at $4.43 and has experienced a 17.2% increase recently, while the company reported earnings of ($0.04) per share, beating expectations.

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) by 78.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,489 shares of the company's stock after buying an additional 122,368 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.35% of Blade Air Mobility worth $760,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its holdings in Blade Air Mobility by 57.1% during the 4th quarter. Deutsche Bank AG now owns 37,776 shares of the company's stock worth $161,000 after buying an additional 13,724 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Blade Air Mobility by 39.5% during the fourth quarter. Bank of America Corp DE now owns 55,974 shares of the company's stock valued at $238,000 after acquiring an additional 15,857 shares during the period. Balyasny Asset Management L.P. bought a new position in Blade Air Mobility in the fourth quarter valued at about $62,000. Raymond James Financial Inc. acquired a new position in Blade Air Mobility during the 4th quarter valued at about $833,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Blade Air Mobility in the 4th quarter valued at about $34,000. Institutional investors own 47.36% of the company's stock.

Insider Activity at Blade Air Mobility

In other news, CFO William A. Heyburn sold 46,918 shares of Blade Air Mobility stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $4.94, for a total value of $231,774.92. Following the sale, the chief financial officer directly owned 1,340,845 shares in the company, valued at $6,623,774.30. This trade represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Melissa M. Tomkiel sold 47,995 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $4.94, for a total transaction of $237,095.30. Following the completion of the sale, the general counsel directly owned 1,148,834 shares in the company, valued at approximately $5,675,239.96. This represents a 4.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 294,913 shares of company stock worth $1,283,870 over the last 90 days. Corporate insiders own 17.50% of the company's stock.

Blade Air Mobility Trading Down 7.0%

Shares of BLDE traded down $0.29 on Wednesday, reaching $3.87. 1,876,979 shares of the company's stock were exchanged, compared to its average volume of 1,708,330. Blade Air Mobility, Inc. has a 12 month low of $2.35 and a 12 month high of $5.17. The stock has a market capitalization of $313.55 million, a P/E ratio of -16.12 and a beta of 1.69. The business has a 50 day moving average price of $4.03 and a two-hundred day moving average price of $3.50.

Blade Air Mobility (NASDAQ:BLDE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). Blade Air Mobility had a negative net margin of 7.46% and a negative return on equity of 8.43%. The company had revenue of $70.80 million during the quarter, compared to the consensus estimate of $64.09 million. Equities research analysts predict that Blade Air Mobility, Inc. will post -0.35 EPS for the current year.

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.