Forest Avenue Capital Management LP Makes New $48.37 Million Investment in Delta Air Lines, Inc. (NYSE:DAL)

Forest Avenue Capital Management LP bought a new stake in Delta Air Lines, Inc. (NYSE:DAL) during the 4th quarter, Holdings Channel reports. The firm bought 799,485 shares of the transportation company’s stock, valued at approximately $48,369,000. Delta Air Lines accounts for about 4.4% of Forest Avenue Capital Management LP’s portfolio, making the stock its 13th largest holding.

A number of other institutional investors have also modified their holdings of DAL. New Wave Wealth Advisors LLC acquired a new stake in Delta Air Lines in the fourth quarter valued at about $27,000. Hemington Wealth Management raised its stake in shares of Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock worth $28,000 after buying an additional 154 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Delta Air Lines in the 4th quarter valued at approximately $29,000. Crews Bank & Trust purchased a new stake in shares of Delta Air Lines in the fourth quarter valued at approximately $30,000. Finally, Modus Advisors LLC acquired a new position in Delta Air Lines during the fourth quarter worth $33,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Price Performance

NYSE:DAL opened at $40.88 on Monday. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98. The firm has a market cap of $26.43 billion, a price-to-earnings ratio of 7.67, a price-to-earnings-growth ratio of 0.75 and a beta of 1.23. The company’s 50-day moving average is $52.37 and its two-hundred day moving average is $57.73. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.38). The firm had revenue of $12.98 billion for the quarter, compared to analysts’ expectations of $13.85 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. Research analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.47%. The ex-dividend date was Thursday, February 27th. Delta Air Lines’s dividend payout ratio (DPR) is 11.26%.

Insider Buying and Selling

In other news, SVP William C. Carroll sold 6,783 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $65.94, for a total value of $447,271.02. Following the completion of the sale, the senior vice president now owns 10,016 shares of the company’s stock, valued at $660,455.04. This represents a 40.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rahul D. Samant sold 38,023 shares of Delta Air Lines stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the transaction, the executive vice president now owns 52,789 shares in the company, valued at $3,425,478.21. The trade was a 41.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,886 shares of company stock valued at $11,116,463. 0.96% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DAL has been the topic of several research analyst reports. TD Cowen boosted their target price on shares of Delta Air Lines from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group decreased their price objective on shares of Delta Air Lines from $83.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Dbs Bank lowered shares of Delta Air Lines from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. StockNews.com downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Finally, Bank of America lowered their price target on Delta Air Lines from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Delta Air Lines presently has an average rating of “Moderate Buy” and a consensus target price of $61.06.

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.