CastleKnight Management LP Raises Position in Delta Air Lines, Inc. $DAL

CastleKnight Management LP boosted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 41.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,700 shares of the transportation company’s stock after buying an additional 13,800 shares during the quarter. CastleKnight Management LP’s holdings in Delta Air Lines were worth $3,241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lloyd Advisory Services LLC. purchased a new position in Delta Air Lines in the 4th quarter valued at about $31,000. Camelot Portfolios LLC purchased a new position in Delta Air Lines in the 4th quarter worth approximately $34,000. Accredited Wealth Management LLC lifted its stake in Delta Air Lines by 1,983.3% in the 3rd quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company’s stock worth $28,000 after purchasing an additional 476 shares in the last quarter. Byrne Asset Management LLC purchased a new position in Delta Air Lines in the 4th quarter worth approximately $35,000. Finally, Beacon Financial Strategies CORP purchased a new position in Delta Air Lines in the 4th quarter worth approximately $36,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines News Roundup

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Bernstein reportedly raised its outlook on Delta, adding to a wave of favorable analyst attention that could support the stock by reinforcing expectations for earnings upside. Delta Air Lines To Rally Around 12%? Here Are 10 Top Analyst Forecasts For Wednesday
• Positive Sentiment: Delta said it will install VCT finlets across 240 Boeing 737NG aircraft, a move aimed at improving fuel efficiency and lowering operating costs over time. Delta Advances Fleet Efficiency with VCT Finlets Across 737NG Fleet
• Positive Sentiment: Reports that crude oil prices may fall if geopolitical tensions ease are constructive for airlines like Delta because jet fuel is a major expense and cheaper fuel can widen margins. 3 Stocks to Watch If the Strait of Hormuz Reopens
• Positive Sentiment: Delta was cleared by the U.S. Department of Transportation for its handling of the 2024 global IT outage, removing a potential regulatory overhang. Delta Air Lines is cleared by the DOT for how it handled the 2024 global IT outage
• Neutral Sentiment: Recent coverage also noted Delta’s quarter in the context of broader travel-sector earnings, but that piece appears more like benchmark commentary than a new stock-moving catalyst. Consumer Discretionary – Travel and Vacation Providers Stocks Q1 Results: Benchmarking Delta (NYSE:DAL)
• Neutral Sentiment: News that Spirit Airlines may make a comeback is mostly an industry headline and is not clearly a direct near-term driver for Delta’s shares. After Chapter 11 shutdown, Spirit Airlines may make a comeback
• Negative Sentiment: Bloomberg reported Delta may drop Safran as a supplier for new business-class suites after supply-chain and regulatory delays, which could signal execution risk around premium-cabin rollout plans. Delta Air Lines (DAL) Might Drop Safran SA, Reports Bloomberg

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wolfe Research decreased their target price on shares of Delta Air Lines from $81.00 to $73.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. TD Cowen raised their target price on shares of Delta Air Lines from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Wells Fargo & Company decreased their target price on shares of Delta Air Lines from $87.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Bank of America decreased their target price on shares of Delta Air Lines from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Finally, UBS Group raised their target price on shares of Delta Air Lines from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Delta Air Lines currently has a consensus rating of “Moderate Buy” and an average price target of $81.05.

Delta Air Lines Stock Down 1.2%

Shares of NYSE DAL opened at $82.11 on Thursday. The company has a 50 day simple moving average of $74.00 and a 200-day simple moving average of $70.01. The company has a market capitalization of $53.94 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.17 and a beta of 1.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.42 and a quick ratio of 0.36. Delta Air Lines, Inc. has a 1 year low of $45.28 and a 1 year high of $87.39.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.05 billion. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS. On average, equities research analysts predict that Delta Air Lines, Inc. will post 5.37 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.1875 per share. The ex-dividend date was Thursday, May 14th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.9%. Delta Air Lines’s dividend payout ratio (DPR) is currently 10.93%.

Insider Transactions at Delta Air Lines

In other news, EVP John E. Laughter sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $71.61, for a total transaction of $1,074,150.00. Following the completion of the sale, the executive vice president owned 54,369 shares in the company, valued at $3,893,364.09. This trade represents a 21.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allison C. Ausband sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the sale, the executive vice president owned 133,854 shares of the company’s stock, valued at $10,574,466. This represents a 3.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 149,635 shares of company stock worth $10,833,855 in the last 90 days. Insiders own 0.80% of the company’s stock.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.