GAMMA Investing LLC Boosts Stake in Delta Air Lines, Inc. (NYSE:DAL)

GAMMA Investing LLC boosted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 67.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,388 shares of the transportation company’s stock after buying an additional 2,987 shares during the period. GAMMA Investing LLC’s holdings in Delta Air Lines were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Delta Air Lines during the 4th quarter valued at $27,000. Manchester Capital Management LLC lifted its stake in Delta Air Lines by 26,166.7% in the 4th quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock worth $32,000 after purchasing an additional 785 shares in the last quarter. Rise Advisors LLC lifted its stake in Delta Air Lines by 122.5% in the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after purchasing an additional 452 shares in the last quarter. Nordwand Advisors LLC acquired a new stake in shares of Delta Air Lines during the 4th quarter worth approximately $40,000. Finally, Private Wealth Management Group LLC acquired a new stake in Delta Air Lines in the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Trading Down 4.9 %

Shares of DAL stock traded down $1.95 during mid-day trading on Monday, reaching $37.88. The company’s stock had a trading volume of 17,578,736 shares, compared to its average volume of 9,759,988. The company’s 50 day simple moving average is $47.24 and its 200-day simple moving average is $45.94. Delta Air Lines, Inc. has a 12-month low of $30.60 and a 12-month high of $53.86. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $24.44 billion, a PE ratio of 5.73, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.01). The firm had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $2.68 EPS. On average, research analysts predict that Delta Air Lines, Inc. will post 6.26 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.58%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. Delta Air Lines’s payout ratio is presently 8.63%.

Analyst Ratings Changes

A number of brokerages recently weighed in on DAL. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Citigroup boosted their price target on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Bank of America upped their target price on shares of Delta Air Lines from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Morgan Stanley reissued an “overweight” rating and set a $85.00 price objective on shares of Delta Air Lines in a research note on Thursday, April 11th. Finally, HSBC started coverage on shares of Delta Air Lines in a research note on Monday, May 13th. They set a “buy” rating and a $72.80 price objective for the company. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $60.70.

Insider Transactions at Delta Air Lines

In related news, Director Willie Cw Chiang bought 10,000 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was bought at an average price of $43.90 per share, with a total value of $439,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $878,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Delta Air Lines news, Director Willie Cw Chiang purchased 10,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was acquired at an average cost of $43.90 per share, with a total value of $439,000.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $878,000. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Joanne D. Smith sold 4,846 shares of Delta Air Lines stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the completion of the transaction, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at $5,879,618.30. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.