Victory Capital Management Inc. Has $14.70 Million Position in Delta Air Lines, Inc. (NYSE:DAL)

Victory Capital Management Inc. increased its position in Delta Air Lines, Inc. (NYSE:DALGet Rating) by 102.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 349,538 shares of the transportation company’s stock after acquiring an additional 177,107 shares during the period. Victory Capital Management Inc.’s holdings in Delta Air Lines were worth $14,700,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DAL. Allspring Global Investments Holdings LLC acquired a new position in Delta Air Lines in the fourth quarter worth approximately $7,325,000. CWM LLC acquired a new position in Delta Air Lines during the fourth quarter valued at approximately $561,000. Raymond James Trust N.A. grew its holdings in Delta Air Lines by 4.5% during the fourth quarter. Raymond James Trust N.A. now owns 8,218 shares of the transportation company’s stock valued at $321,000 after purchasing an additional 357 shares during the last quarter. Centaurus Financial Inc. grew its holdings in Delta Air Lines by 9.1% during the fourth quarter. Centaurus Financial Inc. now owns 10,517 shares of the transportation company’s stock valued at $411,000 after purchasing an additional 873 shares during the last quarter. Finally, AGF Investments Inc. grew its holdings in Delta Air Lines by 23.1% during the fourth quarter. AGF Investments Inc. now owns 29,242 shares of the transportation company’s stock valued at $1,143,000 after purchasing an additional 5,479 shares during the last quarter. Institutional investors and hedge funds own 63.24% of the company’s stock.

Delta Air Lines Stock Down 1.2 %

Shares of NYSE DAL opened at $32.94 on Friday. The stock has a market cap of $21.12 billion, a PE ratio of 35.80 and a beta of 1.20. The business has a fifty day moving average of $32.50 and a two-hundred day moving average of $37.05. Delta Air Lines, Inc. has a 52-week low of $28.09 and a 52-week high of $46.27. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.59 and a current ratio of 0.66.

Delta Air Lines (NYSE:DALGet Rating) last issued its quarterly earnings data on Wednesday, July 13th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.27). The company had revenue of $13.82 billion for the quarter, compared to the consensus estimate of $13.40 billion. Delta Air Lines had a net margin of 1.43% and a return on equity of 14.26%. The firm’s revenue was up 93.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.07) earnings per share. As a group, equities research analysts expect that Delta Air Lines, Inc. will post 2.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Delta Air Lines

In related news, CEO Edward H. Bastian sold 27,664 shares of Delta Air Lines 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 $17,667,459.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Edward H. Bastian sold 27,664 shares of Delta Air Lines 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 $17,667,459.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven M. Sear sold 12,780 shares of Delta Air Lines stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $41.65, for a total value of $532,287.00. Following the completion of the transaction, the executive vice president now directly owns 90,373 shares of the company’s stock, valued at $3,764,035.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,148 shares of company stock valued at $1,945,960. 0.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DAL shares. Berenberg Bank lowered their price target on Delta Air Lines from $54.00 to $48.50 in a report on Wednesday, July 20th. Argus downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a report on Friday, July 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Delta Air Lines from $55.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, July 14th. Raymond James restated a “strong-buy” rating and issued a $50.00 price objective (down previously from $53.00) on shares of Delta Air Lines in a research note on Thursday, June 23rd. Finally, Evercore ISI lowered their price objective on shares of Delta Air Lines from $65.00 to $56.00 and set an “outperform” rating on the stock in a research note on Monday, June 27th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.50.

Delta Air Lines Company Profile

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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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