Cubist Systematic Strategies LLC reduced its stake in Delta Air Lines, Inc. (NYSE:DAL) by 28.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,587 shares of the transportation company’s stock after selling 19,238 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Delta Air Lines were worth $2,391,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Mountain Capital Investment Advisors Inc bought a new stake in Delta Air Lines in the second quarter worth approximately $114,000. BB&T Investment Services Inc. bought a new stake in Delta Air Lines in the second quarter worth approximately $128,000. Bessemer Group Inc. increased its holdings 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 worth $137,000 after purchasing an additional 1,298 shares in the last quarter. Advisory Services Network LLC increased its holdings in Delta Air Lines by 3.0% in the second quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock worth $137,000 after purchasing an additional 75 shares in the last quarter. Finally, IHT Wealth Management LLC increased its holdings in Delta Air Lines by 40.9% in the second quarter. IHT Wealth Management LLC now owns 758 shares of the transportation company’s stock worth $146,000 after purchasing an additional 220 shares in the last quarter. 85.24% of the stock is currently owned by institutional investors.
In related news, insider Steven M. Sear sold 6,898 shares of the company’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $53.01, for a total transaction of $365,662.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward H. Bastian sold 159,240 shares of the company’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $53.06, for a total value of $8,449,274.40. The disclosure for this sale can be found here. Insiders have sold 239,810 shares of company stock valued at $12,684,903 in the last quarter. 0.37% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on DAL shares. BidaskClub upgraded Delta Air Lines from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Morgan Stanley lowered their target price on Delta Air Lines from $62.00 to $59.00 and set an “overweight” rating for the company in a report on Thursday, August 17th. Wolfe Research upgraded 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. Zacks Investment Research downgraded Delta Air Lines from a “strong-buy” rating to a “hold” rating in a report on Monday, August 21st. Finally, Cowen restated a “buy” rating and set a $60.00 price objective on shares of Delta Air Lines in a report on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $63.39.
Shares of Delta Air Lines, Inc. (DAL) opened at $53.63 on Thursday. The company has a market capitalization of $38,226.05, a P/E ratio of 11.17, a PEG ratio of 1.63 and a beta of 1.29. Delta Air Lines, Inc. has a 1-year low of $43.81 and a 1-year high of $55.75. The company has a current ratio of 0.43, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.04. The firm had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.03 billion. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.70 earnings per share. sell-side analysts expect that Delta Air Lines, Inc. will post 5 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were issued a dividend of $0.305 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.22 annualized dividend and a yield of 2.27%. Delta Air Lines’s dividend payout ratio (DPR) is currently 24.50%.
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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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