Wealth Effects LLC Sells 1,420 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Wealth Effects LLC decreased its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 10.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,825 shares of the transportation company’s stock after selling 1,420 shares during the quarter. Wealth Effects LLC’s holdings in Delta Air Lines were worth $715,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new stake in Delta Air Lines during the third quarter worth approximately $25,000. Kimelman & Baird LLC bought a new position in shares of Delta Air Lines during the second quarter worth approximately $31,000. Ashton Thomas Securities LLC acquired a new stake in Delta Air Lines during the 3rd quarter worth approximately $31,000. Modus Advisors LLC bought a new stake in Delta Air Lines in the 4th quarter valued at $33,000. Finally, Harbor Investment Advisory LLC grew its holdings in Delta Air Lines by 217.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 555 shares of the transportation company’s stock valued at $34,000 after buying an additional 380 shares in the last quarter. Institutional investors own 69.93% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Edward H. Bastian sold 91,710 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the sale, the chief executive officer now owns 439,819 shares of the company’s stock, valued at $30,721,357.15. The trade was a 17.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rahul D. Samant sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $58.53, for a total value of $585,300.00. Following the completion of the sale, the executive vice president now owns 64,163 shares in the company, valued at $3,755,460.39. This trade represents a 13.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 149,429 shares of company stock valued at $9,924,819 in the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DAL. Barclays lifted their target price on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Jefferies Financial Group lifted their price objective on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. UBS Group restated a “buy” rating and set a $88.00 target price on shares of Delta Air Lines in a research report on Tuesday, November 26th. TD Cowen lifted their price target on shares of Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Susquehanna lifted their price objective on Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, January 7th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Delta Air Lines presently has a consensus rating of “Buy” and a consensus price target of $78.22.

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $67.74 on Tuesday. The stock has a market cap of $43.71 billion, a PE ratio of 12.71, a P/E/G ratio of 0.79 and a beta of 1.35. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. Delta Air Lines, Inc. has a 12-month low of $37.29 and a 12-month high of $69.98. The business’s 50-day moving average price is $63.17 and its two-hundred day moving average price is $53.27.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.43%. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.20 billion. During the same period in the prior year, the business earned $1.28 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts expect that Delta Air Lines, Inc. will post 7.67 earnings per share for the current fiscal year.

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.