Balyasny Asset Management LLC Buys 44,879 Shares of Delta Air Lines, Inc. (DAL)
Balyasny Asset Management LLC raised its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 24.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,740 shares of the transportation company’s stock after buying an additional 44,879 shares during the period. Balyasny Asset Management LLC’s holdings in Delta Air Lines were worth $12,346,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of DAL. FNY Managed Accounts LLC acquired a new stake in shares of Delta Air Lines in the first quarter valued at about $100,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of 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 purchasing an additional 793 shares during the last quarter. Ruggie Capital Group grew its position in shares of Delta Air Lines by 1,187.0% in the first quarter. Ruggie Capital Group now owns 2,767 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 2,552 shares during the last quarter. Bessemer Group Inc. grew its position in shares of 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 purchasing an additional 1,298 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. grew its position in shares of Delta Air Lines by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,964 shares of the transportation company’s stock valued at $159,000 after purchasing an additional 1,384 shares during the last quarter. Institutional investors own 86.26% of the company’s stock.
Shares of Delta Air Lines, Inc. (NYSE DAL) opened at 51.56 on Thursday. The firm’s 50-day moving average price is $47.91 and its 200-day moving average price is $49.20. The firm has a market capitalization of $37.54 billion, a P/E ratio of 10.22 and a beta of 1.24. Delta Air Lines, Inc. has a 12-month low of $37.91 and a 12-month high of $55.75.
Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.02). Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The business had revenue of $10.79 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the previous year, the company earned $1.47 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts predict that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd were given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Monday, August 21st. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s dividend payout ratio is presently 24.25%.
Several equities research analysts have recently issued reports on the company. Bank of America Corporation raised their price target on Delta Air Lines from $64.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, June 30th. BidaskClub raised Delta Air Lines from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $57.00 price target (up from $56.00) on shares of Delta Air Lines in a research report on Wednesday. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Delta Air Lines in a research report on Thursday, July 13th. Finally, ValuEngine raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $61.47.
In other Delta Air Lines news, EVP Joanne D. Smith sold 3,700 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total transaction of $199,800.00. Following the transaction, the executive vice president now owns 77,223 shares in the company, valued at approximately $4,170,042. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director George N. Mattson bought 6,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were acquired at an average price of $45.44 per share, for a total transaction of $272,640.00. Following the transaction, the director now owns 61,510 shares in the company, valued at $2,795,014.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 141,000 shares of company stock worth $283,440 and have sold 75,700 shares worth $4,171,150. Corporate insiders own 0.37% of the company’s stock.
Delta Air Lines 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.
Want to see what other hedge funds are holding DAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delta Air Lines, Inc. (NYSE:DAL).
Receive News & Ratings for Delta Air Lines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.