Bowling Portfolio Management LLC Lowers Stake in Delta Air Lines, Inc. (NYSE:DAL)

Bowling Portfolio Management LLC lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DALGet Rating) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,404 shares of the transportation company’s stock after selling 1,310 shares during the quarter. Bowling Portfolio Management LLC’s holdings in Delta Air Lines were worth $1,243,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DAL. EverSource Wealth Advisors LLC purchased a new stake in shares of Delta Air Lines during the 4th quarter valued at $25,000. Old North State Trust LLC raised its position in Delta Air Lines by 790.7% in the 4th quarter. Old North State Trust LLC now owns 668 shares of the transportation company’s stock worth $26,000 after purchasing an additional 593 shares during the period. Evolution Advisers Inc. purchased a new position in Delta Air Lines in the 4th quarter worth $29,000. Tyler Stone Wealth Management purchased a new position in Delta Air Lines in the 4th quarter worth $29,000. Finally, Wealth Quarterback LLC raised its position in Delta Air Lines by 257.8% in the 3rd quarter. Wealth Quarterback LLC now owns 5,034 shares of the transportation company’s stock worth $34,000 after purchasing an additional 3,627 shares during the period. Hedge funds and other institutional investors own 63.24% of the company’s stock.

Shares of DAL opened at $30.00 on Thursday. The firm’s 50-day moving average price is $39.03 and its 200-day moving average price is $38.86. The firm has a market capitalization of $19.23 billion, a price-to-earnings ratio of 37.97 and a beta of 1.05. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 8.17. Delta Air Lines, Inc. has a 1-year low of $28.76 and a 1-year high of $46.27.

Delta Air Lines (NYSE:DALGet Rating) last announced its earnings results on Wednesday, April 13th. The transportation company reported ($1.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.05. The firm had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.99 billion. Delta Air Lines had a net margin of 1.47% and a negative return on equity of 41.80%. The company’s revenue for the quarter was up 125.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($3.55) EPS. On average, research analysts forecast that Delta Air Lines, Inc. will post 2.98 EPS for the current fiscal year.

In related news, EVP Joanne D. Smith sold 7,704 shares of Delta Air Lines stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $41.48, for a total transaction of $319,561.92. Following the completion of the transaction, the executive vice president now directly owns 113,153 shares of the company’s stock, valued at approximately $4,693,586.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Joanne D. Smith sold 6,098 shares of Delta Air Lines stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $41.99, for a total transaction of $256,055.02. Following the completion of the transaction, the executive vice president now directly owns 129,881 shares of the company’s stock, valued at $5,453,703.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,270 shares of company stock valued at $3,035,835. 0.63% of the stock is currently owned by corporate insiders.

A number of brokerages recently commented on DAL. Barclays upgraded shares of Delta Air Lines from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $42.00 to $60.00 in a research report on Thursday, April 14th. UBS Group upgraded shares of Delta Air Lines from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $53.00 in a research report on Monday, April 18th. Morgan Stanley lifted their target price on shares of Delta Air Lines from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, April 14th. Susquehanna lifted their target price on shares of Delta Air Lines from $45.00 to $47.00 in a research report on Thursday, April 14th. Finally, Susquehanna Bancshares raised their price target on shares of Delta Air Lines from $45.00 to $47.00 in a report on Thursday, April 14th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.47.

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.

See Also

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

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