Quinn Opportunity Partners LLC Takes $419,000 Position in Delta Air Lines, Inc. (NYSE:DAL)

Quinn Opportunity Partners LLC acquired a new stake in Delta Air Lines, Inc. (NYSE:DAL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,000 shares of the transportation company’s stock, valued at approximately $419,000.

Other hedge funds have also modified their holdings of the company. Candriam Luxembourg S.C.A. acquired a new position in shares of Delta Air Lines in the first quarter valued at about $502,000. Pacifica Partners Inc. boosted its stake in shares of Delta Air Lines by 117.6% in the first quarter. Pacifica Partners Inc. now owns 740 shares of the transportation company’s stock worth $25,000 after buying an additional 400 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Delta Air Lines by 1,136.7% in the first quarter. Sound Income Strategies LLC now owns 742 shares of the transportation company’s stock worth $26,000 after buying an additional 682 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in shares of Delta Air Lines in the fourth quarter worth about $28,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in shares of Delta Air Lines in the first quarter worth about $33,000. 71.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DAL. Deutsche Bank Aktiengesellschaft upped their target price on Delta Air Lines from $47.00 to $58.00 in a research note on Wednesday, June 28th. Morgan Stanley upped their target price on Delta Air Lines from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, July 14th. Citigroup upped their target price on Delta Air Lines from $65.00 to $67.00 in a research note on Sunday, July 16th. Raymond James increased their price target on Delta Air Lines from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 14th. Finally, Evercore ISI increased their price target on Delta Air Lines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, July 14th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Delta Air Lines currently has an average rating of “Buy” and an average price target of $56.88.

Insider Activity at Delta Air Lines

In related news, Director Michael P. Huerta sold 3,350 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $48.43, for a total value of $162,240.50. Following the completion of the sale, the director now directly owns 27,465 shares of the company’s stock, valued at approximately $1,330,129.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Delta Air Lines news, EVP Steven M. Sear sold 12,129 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $45.52, for a total transaction of $552,112.08. Following the completion of the sale, the executive vice president now directly owns 85,708 shares of the company’s stock, valued at approximately $3,901,428.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael P. Huerta sold 3,350 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $48.43, for a total value of $162,240.50. Following the sale, the director now directly owns 27,465 shares of the company’s stock, valued at $1,330,129.95. The disclosure for this sale can be found here. Insiders sold a total of 40,479 shares of company stock valued at $1,839,353 in the last three months. 0.89% of the stock is currently owned by company insiders.

Delta Air Lines Trading Down 0.8 %

DAL opened at $40.82 on Friday. Delta Air Lines, Inc. has a 12 month low of $27.20 and a 12 month high of $49.81. The stock has a market capitalization of $26.26 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 0.21 and a beta of 1.30. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.46 and a quick ratio of 0.41. The business has a fifty day moving average price of $44.96 and a 200 day moving average price of $39.48.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 13th. The transportation company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.28. The business had revenue of $15.58 billion during the quarter, compared to analysts’ expectations of $14.44 billion. Delta Air Lines had a return on equity of 59.56% and a net margin of 5.36%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 EPS. Sell-side analysts expect that Delta Air Lines, Inc. will post 6.56 earnings per share for the current fiscal year.

Delta Air Lines Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 17th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, July 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.98%. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.62%.

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, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.