MBB Public Markets I LLC Acquires New Position in Delta Air Lines, Inc. (NYSE:DAL)

MBB Public Markets I LLC bought a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,890 shares of the transportation company’s stock, valued at approximately $564,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new position in shares of Delta Air Lines in the 2nd quarter valued at about $36,000. Rise Advisors LLC boosted its holdings in shares of Delta Air Lines by 122.5% in the first quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 452 shares during the period. Unique Wealth Strategies LLC purchased a new position in Delta Air Lines during the 2nd quarter worth $40,000. Richard W. Paul & Associates LLC increased its position in Delta Air Lines by 68.7% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 877 shares of the transportation company’s stock valued at $42,000 after acquiring an additional 357 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in shares of Delta Air Lines in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

Shares of DAL opened at $49.95 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. Delta Air Lines, Inc. has a 12 month low of $30.60 and a 12 month high of $53.86. The company’s fifty day moving average is $43.06 and its 200-day moving average is $46.65. The firm has a market cap of $32.23 billion, a price-to-earnings ratio of 7.19, a price-to-earnings-growth ratio of 0.90 and a beta of 1.34.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.01). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The firm had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.45 billion. During the same period in the previous year, the business posted $2.68 EPS. Delta Air Lines’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts expect that Delta Air Lines, Inc. will post 6.18 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. Delta Air Lines’s payout ratio is presently 8.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DAL. BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Sanford C. Bernstein decreased their price objective on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Friday, July 12th. Jefferies Financial Group lowered their price target on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, TD Cowen reduced their price objective on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $61.52.

Insider Activity

In related news, Director Willie Cw Chiang acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was acquired at an average cost of $43.90 per share, with a total value of $439,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $878,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.96% of the company’s stock.

About Delta Air Lines

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, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.