Archon Partners LLC Takes Position in Delta Air Lines, Inc. (DAL)
Archon Partners LLC purchased a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 89,400 shares of the transportation company’s stock, valued at approximately $4,804,000.
Other hedge funds also recently added to or reduced their stakes in the company. FNY Managed Accounts LLC bought a new stake in Delta Air Lines during the first quarter valued at $100,000. TrimTabs Asset Management LLC boosted its stake in Delta Air Lines by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,416 shares of the transportation company’s stock valued at $111,000 after buying an additional 1,136 shares during the period. Advisory Services Network LLC bought a new stake in Delta Air Lines during the first quarter valued at $114,000. Bessemer Group Inc. boosted its stake in Delta Air Lines by 104.3% in the second quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock valued at $137,000 after buying an additional 1,298 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Delta Air Lines by 40.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock valued at $127,000 after buying an additional 793 shares during the period. Institutional investors and hedge funds own 86.48% of the company’s stock.
Delta Air Lines, Inc. (NYSE DAL) opened at 46.95 on Tuesday. The stock has a market cap of $34.18 billion, a price-to-earnings ratio of 9.31 and a beta of 1.20. Delta Air Lines, Inc. has a 52-week low of $35.90 and a 52-week high of $55.75. The stock has a 50 day moving average price of $50.82 and a 200 day moving average price of $49.40.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.02. The business 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 company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.47 earnings per share. Analysts expect that Delta Air Lines, Inc. will post $5.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.305 per share. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Monday, August 21st. Delta Air Lines’s dividend payout ratio is currently 24.25%.
Several analysts recently weighed in on the stock. Barclays PLC assumed coverage on shares of Delta Air Lines in a report on Thursday, August 10th. They issued an “overweight” rating and a $70.00 price target on the stock. 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. BidaskClub cut shares of Delta Air Lines from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Vetr cut shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 price target on the stock. in a report on Thursday, June 1st. Finally, Morgan Stanley cut their price target on shares of Delta Air Lines from $62.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $62.16.
In other news, VP Craig M. Meynard sold 5,000 shares of the company’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $55.26, for a total transaction of $276,300.00. Following the completion of the transaction, the vice president now directly owns 7,437 shares of the company’s stock, valued at approximately $410,968.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George N. Mattson acquired 6,000 shares of the stock in a transaction dated Thursday, August 24th. The shares were acquired at an average cost of $45.44 per share, with a total value of $272,640.00. Following the completion of the transaction, the director now owns 61,510 shares in the company, valued at approximately $2,795,014.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 365,000 shares of company stock valued at $301,360 and have sold 75,700 shares valued at $4,171,150. Corporate insiders own 0.37% of the company’s stock.
About Delta Air Lines
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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