243,000 Shares in Delta Air Lines, Inc. (NYSE:DAL) Purchased by Patient Capital Management LLC

Patient Capital Management LLC purchased a new stake in Delta Air Lines, Inc. (NYSE:DALGet Rating) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 243,000 shares of the transportation company’s stock, valued at approximately $9,496,000. Delta Air Lines makes up approximately 2.7% of Patient Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding.

Several other large investors also recently bought and sold shares of the business. Miller Value Partners LLC increased its stake in shares of Delta Air Lines by 24.5% during the 4th quarter. Miller Value Partners LLC now owns 2,015,530 shares of the transportation company’s stock worth $78,767,000 after purchasing an additional 397,202 shares during the last quarter. IPG Investment Advisors LLC acquired a new position in Delta Air Lines during the fourth quarter worth approximately $1,083,000. Stonebridge Capital Advisors LLC raised its stake in Delta Air Lines by 5.5% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 234,511 shares of the transportation company’s stock valued at $9,165,000 after buying an additional 12,260 shares during the period. Contrarian Capital Management L.L.C. lifted its position in shares of Delta Air Lines by 15.5% in the fourth quarter. Contrarian Capital Management L.L.C. now owns 71,298 shares of the transportation company’s stock valued at $2,786,000 after buying an additional 9,557 shares during the last quarter. Finally, Wills Financial Group Inc. boosted its stake in shares of Delta Air Lines by 262.2% during the 4th quarter. Wills Financial Group Inc. now owns 19,173 shares of the transportation company’s stock worth $749,000 after acquiring an additional 13,880 shares during the period. 63.24% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:DAL traded up $1.40 during mid-day trading on Friday, reaching $42.23. The stock had a trading volume of 10,730,612 shares, compared to its average volume of 15,110,581. Delta Air Lines, Inc. has a 12 month low of $29.75 and a 12 month high of $48.54. The stock has a market capitalization of $27.07 billion, a PE ratio of 53.46 and a beta of 1.05. The company has a debt-to-equity ratio of 8.17, a current ratio of 0.65 and a quick ratio of 0.60. The stock has a 50-day simple moving average of $40.06 and a two-hundred day simple moving average of $39.35.

Delta Air Lines (NYSE:DALGet Rating) last issued its quarterly earnings results on Wednesday, April 13th. The transportation company reported ($1.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.28) by $0.05. Delta Air Lines had a negative return on equity of 41.80% and a net margin of 1.47%. The company had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same quarter last year, the company posted ($3.55) EPS. The company’s revenue for the quarter was up 125.3% compared to the same quarter last year. Equities analysts expect that Delta Air Lines, Inc. will post 2.64 EPS for the current year.

In related news, EVP Joanne D. Smith sold 6,098 shares of the business’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $41.99, for a total transaction of $256,055.02. Following the sale, the executive vice president now owns 129,881 shares in the company, valued at approximately $5,453,703.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward H. Bastian sold 27,664 shares of the company’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $39.55, for a total value of $1,094,111.20. Following the completion of the transaction, the chief executive officer now directly owns 446,712 shares of the company’s stock, valued at approximately $17,667,459.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,786 shares of company stock valued at $2,183,986. Insiders own 0.63% of the company’s stock.

Several equities research analysts have issued reports on DAL shares. Susquehanna Bancshares raised their price target on Delta Air Lines from $45.00 to $47.00 in a report on Thursday, April 14th. The Goldman Sachs Group raised their price objective on shares of Delta Air Lines from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, April 14th. Zacks Investment Research raised Delta Air Lines from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Wednesday, April 20th. UBS Group upgraded Delta Air Lines from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $53.00 in a research note on Monday, April 18th. Finally, Bank of America boosted their price target on Delta Air Lines from $47.00 to $50.00 in a research note on Thursday, April 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Delta Air Lines presently has an average rating of “Buy” and an average target price of $52.41.

Delta Air Lines Company Profile (Get Rating)

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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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