Livingston Group Asset Management CO operating as Southport Capital Management reduced its position in Delta Air Lines, Inc. (NYSE:DAL) by 16.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 30,025 shares of the transportation company’s stock after selling 6,082 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Delta Air Lines were worth $1,736,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Nvwm LLC lifted its stake in Delta Air Lines by 558.5% in the 1st quarter. Nvwm LLC now owns 2,700 shares of the transportation company’s stock valued at $140,000 after purchasing an additional 2,290 shares during the last quarter. Huntington National Bank lifted its position in Delta Air Lines by 73.8% during the second quarter. Huntington National Bank now owns 2,701 shares of the transportation company’s stock worth $134,000 after acquiring an additional 1,147 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Delta Air Lines during the second quarter worth approximately $142,000. Baker Ellis Asset Management LLC acquired a new stake in Delta Air Lines during the second quarter worth approximately $163,000. Finally, Gables Capital Management Inc. acquired a new stake in Delta Air Lines during the first quarter worth approximately $181,000. Institutional investors and hedge funds own 87.27% of the company’s stock.
Shares of NYSE DAL traded up $0.56 during midday trading on Friday, reaching $52.04. The company’s stock had a trading volume of 780,103 shares, compared to its average volume of 6,985,351. The company has a current ratio of 0.40, a quick ratio of 0.31 and a debt-to-equity ratio of 0.67. Delta Air Lines, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $60.79. The company has a market cap of $39.98 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.51 and a beta of 1.00.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, October 11th. The transportation company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.06. Delta Air Lines had a net margin of 7.72% and a return on equity of 26.75%. The company had revenue of $11.95 billion during the quarter, compared to the consensus estimate of $11.96 billion. During the same period in the previous year, the business earned $1.57 earnings per share. On average, equities research analysts forecast that Delta Air Lines, Inc. will post 5.6 earnings per share for the current year.
In other news, Director William H. Easter III sold 3,000 shares of Delta Air Lines stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $58.47, for a total value of $175,410.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $55.00, for a total transaction of $1,925,000.00. Following the completion of the sale, the chief executive officer now owns 266,943 shares of the company’s stock, valued at $14,681,865. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,787 shares of company stock valued at $5,519,226. 0.33% of the stock is owned by company insiders.
DAL has been the subject of several research reports. Bank of America cut their price objective on shares of Delta Air Lines from $67.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday. Imperial Capital restated an “outperform” rating and set a $78.00 price objective (up from $71.00) on shares of Delta Air Lines in a research report on Thursday, September 27th. ValuEngine upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Buckingham Research cut their price objective on shares of Delta Air Lines from $71.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Stephens set a $65.00 price objective on shares of Delta Air Lines and gave the stock a “buy” rating in a research report on Friday, July 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $67.36.
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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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