Advent Capital Management DE Acquires New Position in Delta Air Lines, Inc. (DAL)
Advent Capital Management DE acquired a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 24,000 shares of the transportation company’s stock, valued at approximately $1,290,000.
Several other large investors have also recently made changes to their positions in DAL. BlackRock Inc. boosted its stake in Delta Air Lines by 2,951.4% in the first quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock valued at $2,080,189,000 after buying an additional 43,777,555 shares during the period. Lansdowne Partners UK LLP boosted its stake in Delta Air Lines by 7.3% in the first quarter. Lansdowne Partners UK LLP now owns 28,103,972 shares of the transportation company’s stock valued at $1,291,656,000 after buying an additional 1,918,036 shares during the period. Primecap Management Co. CA boosted its stake in Delta Air Lines by 9.3% in the first quarter. Primecap Management Co. CA now owns 22,713,894 shares of the transportation company’s stock valued at $1,043,931,000 after buying an additional 1,930,614 shares during the period. AQR Capital Management LLC boosted its stake in Delta Air Lines by 15.8% in the first quarter. AQR Capital Management LLC now owns 9,571,378 shares of the transportation company’s stock valued at $439,900,000 after buying an additional 1,308,115 shares during the period. Finally, Boston Partners boosted its stake in Delta Air Lines by 2.5% in the second quarter. Boston Partners now owns 7,774,829 shares of the transportation company’s stock valued at $417,820,000 after buying an additional 190,531 shares during the period. 86.48% of the stock is currently owned by institutional investors.
Delta Air Lines, Inc. (NYSE DAL) traded up 0.70% during trading on Friday, reaching $47.52. The company had a trading volume of 6,099,605 shares. The company has a 50 day moving average price of $49.72 and a 200 day moving average price of $49.33. The company has a market capitalization of $34.59 billion, a PE ratio of 9.42 and a beta of 1.25. Delta Air Lines, Inc. has a 52-week low of $36.59 and a 52-week high of $55.75. Delta Air Lines also was the target of some unusual options trading on Thursday. Investors purchased 26,396 call options on the company. This is an increase of approximately 135% compared to the average volume of 11,213 call options.
Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.02. The company had revenue of $10.79 billion for the quarter, compared to analyst estimates of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $1.47 EPS. On average, equities analysts forecast that Delta Air Lines, Inc. will post $5.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd will be issued a dividend of $0.305 per share. The ex-dividend date is Monday, August 21st. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.57%. Delta Air Lines’s payout ratio is presently 24.25%.
Several analysts recently commented on DAL shares. BidaskClub cut shares of Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research downgraded shares of Delta Air Lines from a “strong-buy” rating to a “hold” rating in a report on Monday, August 21st. Wolfe Research upgraded shares of Delta Air Lines from a “market perform” rating to an “outperform” rating in a report on Friday, August 18th. They noted that the move was a valuation call. Morgan Stanley lowered their price target on shares of Delta Air Lines from $62.00 to $59.00 and set an “overweight” rating for the company in a report on Thursday, August 17th. Finally, Cowen and Company reiterated a “buy” rating and set a $66.00 price target on shares of Delta Air Lines in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $62.16.
In other news, President Glen W. Hauenstein sold 67,000 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $55.15, for a total transaction of $3,695,050.00. Following the completion of the sale, the president now directly owns 239,418 shares in the company, valued at approximately $13,203,902.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Craig M. Meynard sold 5,000 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $55.26, for a total value of $276,300.00. Following the sale, the vice president now owns 7,437 shares of the company’s stock, valued at $410,968.62. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 335,000 shares of company stock worth $298,960 and have sold 75,700 shares worth $4,171,150. 0.37% of the stock is currently owned by insiders.
Delta Air Lines Company Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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