Proficio Capital Partners LLC Makes New Investment in Delta Air Lines, Inc. $DAL

Proficio Capital Partners LLC bought a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,331 shares of the transportation company’s stock, valued at approximately $968,000.

Other institutional investors also recently made changes to their positions in the company. Elevation Wealth Partners LLC raised its position in shares of Delta Air Lines by 195.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 358 shares of the transportation company’s stock worth $34,000 after purchasing an additional 237 shares during the period. Lloyd Advisory Services LLC. bought a new stake in shares of Delta Air Lines in the 4th quarter worth approximately $31,000. Atlas Wealth LLC acquired a new position in Delta Air Lines during the 1st quarter valued at approximately $35,000. Main Street Group LTD acquired a new position in Delta Air Lines during the 1st quarter valued at approximately $36,000. Finally, Signature Equity Partners LLC grew its stake in Delta Air Lines by 831.0% during the 1st quarter. Signature Equity Partners LLC now owns 540 shares of the transportation company’s stock worth $36,000 after buying an additional 482 shares during the last quarter. 69.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on DAL. BMO Capital Markets increased their target price on Delta Air Lines from $80.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. The Goldman Sachs Group reissued a “buy” rating on shares of Delta Air Lines in a report on Monday, August 3rd. TD Cowen lowered their price target on shares of Delta Air Lines from $112.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, August 24th. Evercore increased their price objective on shares of Delta Air Lines from $85.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. Finally, Jefferies Financial Group lifted their price objective on shares of Delta Air Lines from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Twenty-three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Delta Air Lines currently has an average rating of “Moderate Buy” and a consensus price target of $99.84.

Delta Air Lines Trading Down 2.1%

NYSE:DAL opened at $76.38 on Wednesday. Delta Air Lines, Inc. has a 1 year low of $55.03 and a 1 year high of $95.68. The stock has a market cap of $50.23 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.08 and a beta of 1.29. The business has a fifty day moving average of $87.36 and a 200-day moving average of $76.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.35 and a current ratio of 0.42.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The company had revenue of $17.67 billion for the quarter, compared to analyst estimates of $17.43 billion. During the same period last year, the company earned $2.10 earnings per share. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. Equities analysts predict that Delta Air Lines, Inc. will post 6.23 earnings per share for the current year.

Delta Air Lines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th were paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 9th. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.19. Delta Air Lines’s dividend payout ratio is 14.26%.

Insider Activity

In other Delta Air Lines news, EVP Steven M. Sear sold 40,460 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $93.55, for a total transaction of $3,785,033.00. Following the sale, the executive vice president directly owned 104,404 shares in the company, valued at approximately $9,766,994.20. The trade was a 27.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alain Bellemare sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $92.72, for a total transaction of $3,245,200.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares of the company’s stock, valued at approximately $8,810,718. This represents a 26.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 356,726 shares of company stock worth $33,081,037 in the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

About Delta Air Lines

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.