Myriad Asset Management US LP Makes New Investment in Delta Air Lines, Inc. (NYSE:DAL)

Myriad Asset Management US LP purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,433 shares of the transportation company’s stock, valued at approximately $1,539,000.

A number of other hedge funds have also recently added to or reduced their stakes in DAL. Pzena Investment Management LLC purchased a new position in shares of Delta Air Lines during the 3rd quarter worth about $281,206,000. Castle Hook Partners LP purchased a new position in Delta Air Lines during the third quarter worth approximately $189,296,000. Sanders Capital LLC grew its stake in shares of Delta Air Lines by 2.8% during the 3rd quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company’s stock valued at $1,414,074,000 after buying an additional 749,099 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Delta Air Lines by 419.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 562,129 shares of the transportation company’s stock worth $28,551,000 after buying an additional 453,926 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in shares of Delta Air Lines by 325.7% during the 4th quarter. Retirement Systems of Alabama now owns 592,808 shares of the transportation company’s stock worth $35,865,000 after purchasing an additional 453,547 shares during the period. 69.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DAL has been the subject of several research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Jefferies Financial Group increased their price target on Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a report on Monday, November 11th. Citigroup boosted their price objective on Delta Air Lines from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Susquehanna increased their target price on Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $83.00 target price on shares of Delta Air Lines in a report on Friday, November 15th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $78.22.

Delta Air Lines Price Performance

Shares of DAL stock opened at $65.41 on Friday. The firm has a market cap of $42.21 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.80 and a beta of 1.36. The firm has a fifty day moving average of $64.12 and a two-hundred day moving average of $55.38. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32. Delta Air Lines, Inc. has a 1-year low of $37.29 and a 1-year high of $69.98.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.09. Delta Air Lines had a return on equity of 30.43% and a net margin of 5.61%. The firm had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.20 billion. During the same period in the previous year, the company earned $1.28 earnings per share. Delta Air Lines’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, February 27th. This represents a $0.60 annualized dividend and a yield of 0.92%. Delta Air Lines’s payout ratio is 11.26%.

Insiders Place Their Bets

In related news, SVP William C. Carroll sold 8,400 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $66.02, for a total transaction of $554,568.00. Following the completion of the sale, the senior vice president now owns 19,756 shares of the company’s stock, valued at $1,304,291.12. This represents a 29.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward H. Bastian sold 91,710 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the completion of the transaction, the chief executive officer now directly owns 439,819 shares in the company, valued at $30,721,357.15. This represents a 17.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,886 shares of company stock valued at $11,116,463. Company 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.