Nikko Asset Management Americas Inc. Sells 101,481 Shares of Blade Air Mobility, Inc. (NASDAQ:BLDE)

Key Points

• Nikko Asset Management Americas Inc. has reduced its stock holdings in Blade Air Mobility by 3.3%, now owning approximately 2,999,192 shares valued at $8,158,000.
• Corporate insiders, including CFO William A. Heyburn and General Counsel Melissa M. Tomkiel, both sold 100,000 shares recently, resulting in significant decreases in their personal stock holdings.
• Blade Air Mobility reported earnings of ($0.04) EPS, exceeding estimates, with revenue of $54.31 million during the last quarter.

Nikko Asset Management Americas Inc. decreased its position in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,999,192 shares of the company's stock after selling 101,481 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 3.76% of Blade Air Mobility worth $8,158,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BLDE. BNP Paribas Financial Markets acquired a new position in Blade Air Mobility during the 4th quarter worth about $34,000. Virtu Financial LLC acquired a new position in Blade Air Mobility during the 4th quarter worth about $53,000. Sunbelt Securities Inc. lifted its holdings in Blade Air Mobility by 66,255.0% during the 4th quarter. Sunbelt Securities Inc. now owns 13,271 shares of the company's stock worth $58,000 after buying an additional 13,251 shares during the period. Balyasny Asset Management L.P. acquired a new position in Blade Air Mobility during the 4th quarter worth about $62,000. Finally, ProShare Advisors LLC lifted its holdings in Blade Air Mobility by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 16,341 shares of the company's stock worth $69,000 after buying an additional 5,377 shares during the period. Institutional investors and hedge funds own 47.36% of the company's stock.

Insider Activity

In other news, CFO William A. Heyburn sold 100,000 shares of Blade Air Mobility stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $4.07, for a total value of $407,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,360,002 shares of the company's stock, valued at approximately $5,535,208.14. This trade represents a 6.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Melissa M. Tomkiel sold 100,000 shares of Blade Air Mobility stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $4.08, for a total value of $408,000.00. Following the completion of the transaction, the general counsel directly owned 1,151,204 shares of the company's stock, valued at approximately $4,696,912.32. This trade represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Blade Air Mobility Stock Up 0.6%

BLDE traded up $0.03 during midday trading on Wednesday, hitting $3.97. 208,644 shares of the company were exchanged, compared to its average volume of 706,591. The firm has a market capitalization of $321.24 million, a P/E ratio of -11.63 and a beta of 1.68. Blade Air Mobility, Inc. has a 1-year low of $2.35 and a 1-year high of $5.17. The firm's 50 day moving average price is $3.97 and its 200-day moving average price is $3.49.

Blade Air Mobility (NASDAQ:BLDE - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.07. The firm had revenue of $54.31 million for the quarter, compared to the consensus estimate of $49.30 million. Blade Air Mobility had a negative return on equity of 8.80% and a negative net margin of 10.56%. On average, sell-side analysts predict that Blade Air Mobility, Inc. will post -0.35 earnings per share for the current fiscal year.

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.