Miller Value Partners LLC Sells 8,725 Shares of Delta Air Lines, Inc. (DAL)

Miller Value Partners LLC lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 0.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,552,975 shares of the transportation company’s stock after selling 8,725 shares during the period. Delta Air Lines makes up 2.9% of Miller Value Partners LLC’s investment portfolio, making the stock its 8th biggest holding. Miller Value Partners LLC owned about 0.22% of Delta Air Lines worth $76,934,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wagner Wealth Management LLC raised its position in shares of Delta Air Lines by 375.0% during the first quarter. Wagner Wealth Management LLC now owns 1,900 shares of the transportation company’s stock valued at $104,000 after buying an additional 1,500 shares during the last quarter. Fortis Advisors LLC raised its position in shares of Delta Air Lines by 99.1% during the first quarter. Fortis Advisors LLC now owns 2,389 shares of the transportation company’s stock valued at $131,000 after buying an additional 1,189 shares during the last quarter. Nvwm LLC raised its position in shares of Delta Air Lines by 558.5% during the first quarter. Nvwm LLC now owns 2,700 shares of the transportation company’s stock valued at $140,000 after buying an additional 2,290 shares during the last quarter. Huntington National Bank raised its position in shares of Delta Air Lines by 73.8% during the second quarter. Huntington National Bank now owns 2,701 shares of the transportation company’s stock valued at $134,000 after buying an additional 1,147 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Delta Air Lines during the second quarter valued at about $142,000. 87.30% of the stock is owned by institutional investors and hedge funds.

DAL has been the subject of a number of research analyst reports. ValuEngine raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Thursday, May 24th. Imperial Capital upped their price objective on shares of Delta Air Lines from $68.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, June 1st. Citigroup cut their price objective on shares of Delta Air Lines from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, June 7th. Buckingham Research cut their price objective on shares of Delta Air Lines from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, June 7th. Finally, Deutsche Bank cut their price objective on shares of Delta Air Lines from $73.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, June 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Delta Air Lines has a consensus rating of “Buy” and a consensus target price of $66.61.

NYSE:DAL opened at $57.93 on Monday. Delta Air Lines, Inc. has a 12-month low of $47.12 and a 12-month high of $60.79. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.40 and a quick ratio of 0.31. The stock has a market capitalization of $39.68 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 0.51 and a beta of 1.06.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 12th. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.05. Delta Air Lines had a net margin of 7.72% and a return on equity of 26.75%. The firm had revenue of $11.78 billion during the quarter, compared to analyst estimates of $11.73 billion. During the same quarter in the prior year, the business posted $1.64 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. equities analysts predict that Delta Air Lines, Inc. will post 5.59 EPS for the current fiscal year.

In other news, COO W Gilbert West sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 13th. The shares were sold at an average price of $50.47, for a total transaction of $757,050.00. Following the completion of the sale, the chief operating officer now owns 104,447 shares of the company’s stock, valued at $5,271,440.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William H. Easter III sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $58.47, for a total transaction of $175,410.00. The disclosure for this sale can be found here. Insiders sold 117,787 shares of company stock valued at $6,276,276 in the last three months. Company insiders own 0.33% of the company’s stock.

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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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