Thoroughbred Financial Services LLC Takes Position in Delta Air Lines, Inc. (NYSE:DAL)

Thoroughbred Financial Services LLC purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,711 shares of the transportation company’s stock, valued at approximately $224,000.

A number of other hedge funds have also recently added to or reduced their stakes in DAL. ExodusPoint Capital Management LP acquired a new position in Delta Air Lines during the 4th quarter worth approximately $7,264,000. World Investment Advisors grew its holdings in Delta Air Lines by 68.7% during the fourth quarter. World Investment Advisors now owns 9,983 shares of the transportation company’s stock worth $604,000 after acquiring an additional 4,065 shares during the period. Cinctive Capital Management LP raised its position in Delta Air Lines by 38.6% in the fourth quarter. Cinctive Capital Management LP now owns 166,379 shares of the transportation company’s stock worth $10,066,000 after acquiring an additional 46,374 shares in the last quarter. OV Management LLC lifted its holdings in Delta Air Lines by 8.1% in the fourth quarter. OV Management LLC now owns 42,287 shares of the transportation company’s stock valued at $2,558,000 after acquiring an additional 3,186 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of Delta Air Lines during the 4th quarter worth $19,280,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DAL. Jefferies Financial Group reiterated a “hold” rating and issued a $46.00 price target (down previously from $85.00) on shares of Delta Air Lines in a report on Tuesday, April 1st. The Goldman Sachs Group reduced their price target on shares of Delta Air Lines from $83.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Raymond James lowered their price target on Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 2nd. StockNews.com cut Delta Air Lines from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Dbs Bank lowered Delta Air Lines from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.20.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $37.21 on Tuesday. The stock has a market capitalization of $24.05 billion, a P/E ratio of 6.98, a P/E/G ratio of 0.75 and a beta of 1.23. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month 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 firm’s 50-day moving average is $55.71 and its two-hundred day moving average is $58.15.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. The firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. Delta Air Lines’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.28 earnings per share. Equities analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were paid a $0.15 dividend. The ex-dividend date was Thursday, February 27th. This represents a $0.60 annualized dividend and a yield of 1.61%. Delta Air Lines’s payout ratio is currently 11.26%.

Insider Buying and Selling

In related news, CEO Edward H. Bastian sold 91,710 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total transaction 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 approximately $30,721,357.15. This represents a 17.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Rahul D. Samant sold 17,970 shares of Delta Air Lines stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $69.08, for a total transaction of $1,241,367.60. Following the completion of the transaction, the executive vice president now owns 35,889 shares in the company, valued at approximately $2,479,212.12. This trade represents a 33.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,886 shares of company stock worth $11,116,463. 0.96% of the stock is owned by company insiders.

Delta Air Lines 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.