Quinn Opportunity Partners LLC Reduces Stock Position in Delta Air Lines, Inc. $DAL

Quinn Opportunity Partners LLC lessened its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 25.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,000 shares of the transportation company’s stock after selling 3,500 shares during the period. Quinn Opportunity Partners LLC’s holdings in Delta Air Lines were worth $492,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC bought a new stake in Delta Air Lines during the 2nd quarter valued at $386,364,000. Pacer Advisors Inc. increased its holdings in shares of Delta Air Lines by 5,224.6% during the first quarter. Pacer Advisors Inc. now owns 4,336,709 shares of the transportation company’s stock valued at $189,081,000 after acquiring an additional 4,255,262 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Delta Air Lines by 149.9% during the first quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company’s stock valued at $246,487,000 after acquiring an additional 3,577,489 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Delta Air Lines by 347.4% in the 1st quarter. Ameriprise Financial Inc. now owns 4,232,974 shares of the transportation company’s stock valued at $184,909,000 after purchasing an additional 3,286,741 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Delta Air Lines in the 1st quarter worth approximately $122,849,000. Institutional investors own 69.93% of the company’s stock.

Insiders Place Their Bets

In related news, SVP William C. Carroll sold 14,010 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total transaction of $858,112.50. Following the transaction, the senior vice president directly owned 15,816 shares in the company, valued at approximately $968,730. The trade was a 46.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John E. Laughter sold 23,323 shares of the firm’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the completion of the transaction, the executive vice president directly owned 81,109 shares in the company, valued at $5,055,523.97. This trade represents a 22.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,833 shares of company stock valued at $2,463,585 in the last 90 days. 0.88% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on DAL shares. JPMorgan Chase & Co. raised their price target on shares of Delta Air Lines from $72.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Bank of America lifted their price target on Delta Air Lines from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. TD Cowen raised their price objective on Delta Air Lines from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Raymond James Financial upped their target price on Delta Air Lines from $68.00 to $70.00 and gave the company a “strong-buy” rating in a research report on Friday, October 10th. Finally, Wall Street Zen upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating and twenty have given a Buy rating to the stock. Based on data from MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and an average price target of $71.53.

Delta Air Lines Stock Up 4.6%

Delta Air Lines stock opened at $60.42 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.34. The stock has a market capitalization of $39.45 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The business has a 50 day simple moving average of $58.94 and a 200-day simple moving average of $54.59. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 EPS for the quarter. The company had revenue of $8.40 billion during the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. On average, analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Investors of record on Thursday, October 16th were given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, October 16th. Delta Air Lines’s payout ratio is presently 10.56%.

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 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.