Wedge Capital Management L L P NC decreased its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 21.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 238,536 shares of the transportation company’s stock after selling 64,589 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Delta Air Lines were worth $11,903,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Sigma Planning Corp grew its position in shares of Delta Air Lines by 13.3% during the 4th quarter. Sigma Planning Corp now owns 31,638 shares of the transportation company’s stock worth $1,579,000 after buying an additional 3,703 shares during the period. Exane Derivatives boosted its stake in Delta Air Lines by 1,170.3% during the 4th quarter. Exane Derivatives now owns 71,834 shares of the transportation company’s stock worth $3,584,000 after acquiring an additional 66,179 shares during the last quarter. Wedbush Securities Inc. boosted its stake in Delta Air Lines by 11.4% during the 4th quarter. Wedbush Securities Inc. now owns 7,838 shares of the transportation company’s stock worth $391,000 after acquiring an additional 800 shares during the last quarter. Pineno Levin & Ford Asset Management Inc. boosted its stake in Delta Air Lines by 0.6% during the 4th quarter. Pineno Levin & Ford Asset Management Inc. now owns 52,453 shares of the transportation company’s stock worth $2,617,000 after acquiring an additional 290 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in Delta Air Lines by 12.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 3,551 shares of the transportation company’s stock worth $177,000 after acquiring an additional 388 shares during the last quarter. Institutional investors own 87.69% of the company’s stock.
DAL traded up $0.15 during trading on Wednesday, reaching $50.69. The company had a trading volume of 2,177,944 shares, compared to its average volume of 8,354,259. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.28 and a current ratio of 0.35. Delta Air Lines, Inc. has a 12 month low of $45.08 and a 12 month high of $61.32. The firm has a market cap of $34.32 billion, a P/E ratio of 8.97, a PEG ratio of 0.58 and a beta of 1.11.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Tuesday, January 15th. The transportation company reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.03. Delta Air Lines had a net margin of 8.78% and a return on equity of 29.43%. The firm had revenue of $10.74 billion for the quarter, compared to analyst estimates of $10.71 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts anticipate that Delta Air Lines, Inc. will post 6.55 earnings per share for the current fiscal year.
In related news, Director Francis S. Blake purchased 5,185 shares of the business’s stock in a transaction on Monday, January 28th. The shares were purchased at an average price of $48.17 per share, with a total value of $249,761.45. Following the completion of the purchase, the director now owns 47,885 shares in the company, valued at approximately $2,306,620.45. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George N. Mattson purchased 4,000 shares of the business’s stock in a transaction on Monday, December 17th. The stock was bought at an average cost of $52.87 per share, for a total transaction of $211,480.00. Following the purchase, the director now owns 72,530 shares of the company’s stock, valued at approximately $3,834,661.10. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 13,185 shares of company stock worth $664,881. Insiders own 0.33% of the company’s stock.
Several research firms recently weighed in on DAL. Zacks Investment Research lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Vertical Research began coverage on shares of Delta Air Lines in a research note on Monday. They set a “hold” rating on the stock. Imperial Capital reissued an “outperform” rating and set a $77.00 price objective (down previously from $81.00) on shares of Delta Air Lines in a research note on Friday, December 14th. Credit Suisse Group set a $67.00 price objective on shares of Delta Air Lines and gave the stock a “buy” rating in a research note on Wednesday, January 16th. Finally, Susquehanna Bancshares began coverage on shares of Delta Air Lines in a research note on Wednesday, November 28th. They set a “positive” rating and a $69.00 price objective on the stock. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $67.22.
ILLEGAL ACTIVITY NOTICE: “Wedge Capital Management L L P NC Has $11.90 Million Stake in Delta Air Lines, Inc. (DAL)” was published by Enterprise Leader and is the property of of Enterprise Leader. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://theenterpriseleader.com/2019/02/06/wedge-capital-management-l-l-p-nc-has-11-90-million-stake-in-delta-air-lines-inc-dal.html.
Delta Air Lines Profile
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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
Recommended Story: What are the benefits of a balanced fund?
Want to see what other hedge funds are holding DAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delta Air Lines, Inc. (NYSE:DAL).
Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.