Assenagon Asset Management S.A. Sells 402,798 Shares of Delta Air Lines, Inc. $DAL

Assenagon Asset Management S.A. lessened its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 89.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,131 shares of the transportation company’s stock after selling 402,798 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Delta Air Lines were worth $2,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of DAL. Signature Resources Capital Management LLC purchased a new position in Delta Air Lines during the second quarter valued at $25,000. NewSquare Capital LLC increased its position in Delta Air Lines by 184.6% in the second quarter. NewSquare Capital LLC now owns 572 shares of the transportation company’s stock worth $28,000 after buying an additional 371 shares in the last quarter. Activest Wealth Management raised its stake in shares of Delta Air Lines by 2,280.8% in the second quarter. Activest Wealth Management now owns 619 shares of the transportation company’s stock worth $30,000 after buying an additional 593 shares during the period. Wealth Preservation Advisors LLC bought a new position in shares of Delta Air Lines in the first quarter worth about $31,000. Finally, Kilter Group LLC purchased a new position in shares of Delta Air Lines during the 2nd quarter valued at about $35,000. Institutional investors own 69.93% of the company’s stock.

Insiders Place Their Bets

In other news, SVP William C. Carroll sold 14,010 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total value of $858,112.50. Following the sale, the senior vice president owned 15,816 shares of the company’s stock, valued at approximately $968,730. This represents a 46.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John E. Laughter sold 23,323 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 81,109 shares of the company’s stock, valued at $5,055,523.97. This trade represents a 22.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Down 2.2%

Shares of NYSE DAL opened at $70.49 on Wednesday. Delta Air Lines, Inc. has a 1-year low of $34.74 and a 1-year high of $72.34. 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 business’s 50 day moving average is $62.68 and its two-hundred day moving average is $58.18. The stock has a market capitalization of $46.03 billion, a P/E ratio of 9.93, a PEG ratio of 1.58 and a beta of 1.38.

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

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th were given a dividend of $0.1875 per share. The ex-dividend date was Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.1%. Delta Air Lines’s payout ratio is 10.56%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wolfe Research reduced their target price on shares of Delta Air Lines from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, November 17th. Bank of America increased their price objective on shares of Delta Air Lines from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Evercore ISI raised their price objective on shares of Delta Air Lines from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. upped their target price 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. Finally, Dbs Bank upgraded Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-two have issued a Buy rating to the stock. According to MarketBeat.com, Delta Air Lines presently has a consensus rating of “Buy” and an average target price of $75.07.

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.