Russell Investments Group Ltd. Has $1.83 Million Position in Blade Air Mobility, Inc. $BLDE

Key Points

• Russell Investments Group Ltd. increased its stake in Blade Air Mobility, Inc. by 18.2%, owning a total of 669,575 shares valued at approximately $1.83 million after purchasing an additional 103,170 shares in the first quarter.
• Blade Air Mobility's recent quarterly earnings report showed an EPS of ($0.05), missing estimates, but with revenue of $70.8 million, surpassing expectations of $64.09 million.
• Insider trading activity includes significant stock sales by CFO William A. Heyburn and General Counsel Melissa M. Tomkiel, with total insider sales around $1.28 million in the last quarter.

Russell Investments Group Ltd. lifted its stake in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) by 18.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 669,575 shares of the company's stock after buying an additional 103,170 shares during the quarter. Russell Investments Group Ltd. owned about 0.84% of Blade Air Mobility worth $1,828,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Deutsche Bank AG raised its stake 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 acquiring an additional 13,724 shares in the last quarter. Bank of America Corp DE raised its holdings in 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 worth $238,000 after purchasing an additional 15,857 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Blade Air Mobility during the 4th quarter worth $62,000. Raymond James Financial Inc. acquired a new stake in shares of Blade Air Mobility in the 4th quarter worth approximately $833,000. Finally, BNP Paribas Financial Markets acquired a new stake in Blade Air Mobility in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 47.36% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel Melissa M. Tomkiel sold 100,000 shares of Blade Air Mobility stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $4.08, for a total transaction of $408,000.00. Following the sale, the general counsel owned 1,151,204 shares of the company's stock, valued at approximately $4,696,912.32. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO William A. Heyburn sold 100,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $4.07, for a total transaction of $407,000.00. Following the transaction, the chief financial officer directly owned 1,360,002 shares in the company, valued at approximately $5,535,208.14. The trade was a 6.85% 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 quarter. 17.50% of the stock is currently owned by insiders.

Blade Air Mobility Stock Performance

Blade Air Mobility stock traded up $0.19 during midday trading on Monday, reaching $4.77. 617,157 shares of the company were exchanged, compared to its average volume of 1,901,769. The firm's 50-day simple moving average is $4.23 and its 200-day simple moving average is $3.55. The company has a market capitalization of $389.28 million, a price-to-earnings ratio of -19.85 and a beta of 1.69. Blade Air Mobility, Inc. has a 1 year low of $2.35 and a 1 year high of $5.17.

Blade Air Mobility (NASDAQ:BLDE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $70.80 million for the quarter, compared to analysts' expectations of $64.09 million. Blade Air Mobility had a negative return on equity of 8.45% and a negative net margin of 7.46%. Blade Air Mobility has set its FY 2025 guidance at EPS. On average, analysts forecast that Blade Air Mobility, Inc. will post -0.35 EPS for the current fiscal 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.