Nikko Asset Management Americas Inc. Trims Stock Position in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Nikko Asset Management Americas Inc. lowered its holdings in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in shares of Blade Air Mobility during the 4th quarter valued at about $34,000. Virtu Financial LLC purchased a new stake in shares of Blade Air Mobility during the 4th quarter valued at about $53,000. Sunbelt Securities Inc. increased its position in shares of Blade Air Mobility by 66,255.0% during the 4th quarter. Sunbelt Securities Inc. now owns 13,271 shares of the company’s stock valued at $58,000 after purchasing an additional 13,251 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Blade Air Mobility during the 4th quarter valued at about $62,000. Finally, ProShare Advisors LLC increased its position in shares of Blade Air Mobility by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 16,341 shares of the company’s stock valued at $69,000 after purchasing an additional 5,377 shares during the last quarter. Hedge funds and other institutional investors own 47.36% of the company’s stock.

Insider Activity at Blade Air Mobility

In related news, CFO William A. Heyburn sold 100,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $4.07, for a total value of $407,000.00. Following the completion of the sale, the chief financial officer directly owned 1,360,002 shares of the company’s stock, valued at approximately $5,535,208.14. This represents a 6.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Melissa M. Tomkiel sold 100,000 shares of the 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 completion of the sale, the general counsel directly owned 1,151,204 shares of the company’s stock, valued at $4,696,912.32. This represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

Blade Air Mobility Stock Down 0.2%

NASDAQ BLDE opened at $4.30 on Friday. Blade Air Mobility, Inc. has a 52 week low of $2.35 and a 52 week high of $5.17. The firm has a market capitalization of $348.39 million, a P/E ratio of -12.65 and a beta of 1.68. The company has a 50-day moving average price of $3.94 and a 200-day moving average price of $3.49.

Blade Air Mobility (NASDAQ:BLDE) last released its earnings results on Monday, May 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.07. The company had revenue of $54.31 million during the quarter, compared to analyst estimates of $49.30 million. Blade Air Mobility had a negative net margin of 10.56% and a negative return on equity of 8.80%. As a group, equities research analysts anticipate that Blade Air Mobility, Inc. will post -0.35 EPS for the current 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.