Delta Air Lines, Inc. (NYSE:DAL) Shares Purchased by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC raised its stake in Delta Air Lines, Inc. (NYSE:DAL) by 34.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 268,810 shares of the transportation company’s stock after purchasing an additional 68,939 shares during the quarter. Delta Air Lines comprises about 1.2% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 23rd biggest position. Zweig DiMenna Associates LLC’s holdings in Delta Air Lines were worth $16,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in Delta Air Lines in the third quarter valued at about $25,000. Modus Advisors LLC acquired a new position in Delta Air Lines in the fourth quarter worth about $33,000. Harbor Investment Advisory LLC grew its stake in Delta Air Lines by 217.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 555 shares of the transportation company’s stock worth $34,000 after purchasing an additional 380 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in Delta Air Lines in the fourth quarter valued at approximately $36,000. Finally, Versant Capital Management Inc boosted its stake in Delta Air Lines by 829.2% in the fourth quarter. Versant Capital Management Inc now owns 604 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 539 shares during the period. 69.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DAL has been the subject of a number of research reports. Bank of America lifted their target price on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 11th. TD Cowen boosted their price objective on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Sanford C. Bernstein boosted their price objective on Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Citigroup boosted their price objective on Delta Air Lines from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, UBS Group reissued a “buy” rating and set a $88.00 target price on shares of Delta Air Lines in a report on Tuesday, November 26th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $78.22.

Delta Air Lines Price Performance

DAL opened at $67.27 on Friday. Delta Air Lines, Inc. has a one year low of $37.29 and a one year high of $69.98. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32. The company’s 50 day simple moving average is $63.06 and its 200-day simple moving average is $52.94. The stock has a market capitalization of $43.41 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.79 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.09. The firm had revenue of $15.56 billion for the quarter, compared to analysts’ expectations of $14.20 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.43%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. Sell-side analysts anticipate that Delta Air Lines, Inc. will post 7.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Edward H. Bastian sold 91,710 shares of Delta Air Lines stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 439,819 shares of the company’s stock, valued at $30,721,357.15. This trade represents a 17.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Allison C. Ausband sold 7,510 shares of Delta Air Lines stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total transaction of $470,276.20. Following the sale, the executive vice president now directly owns 58,897 shares of the company’s stock, valued at $3,688,130.14. The trade was a 11.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 217,429 shares of company stock worth $13,755,259 over the last ninety days. Company insiders own 0.96% of the company’s stock.

About Delta Air Lines

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.