Public Employees Retirement System of Ohio trimmed its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 30.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,622 shares of the transportation company’s stock after selling 101,357 shares during the period. Public Employees Retirement System of Ohio’s holdings in Delta Air Lines were worth $6,609,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Tobam purchased a new position in shares of Delta Air Lines in the second quarter valued at $1,375,000. Level Four Advisory Services LLC lifted its holdings in Delta Air Lines by 25.0% in the 2nd quarter. Level Four Advisory Services LLC now owns 40,293 shares of the transportation company’s stock worth $1,133,000 after buying an additional 8,063 shares in the last quarter. Cigna Investments Inc. New boosted its position in Delta Air Lines by 16.0% in the 2nd quarter. Cigna Investments Inc. New now owns 17,532 shares of the transportation company’s stock valued at $492,000 after buying an additional 2,413 shares during the last quarter. Parametrica Management Ltd purchased a new position in Delta Air Lines in the 2nd quarter valued at about $5,060,000. Finally, Private Advisor Group LLC grew its stake in shares of Delta Air Lines by 254.2% during the second quarter. Private Advisor Group LLC now owns 100,799 shares of the transportation company’s stock valued at $2,287,000 after acquiring an additional 72,344 shares in the last quarter. 58.31% of the stock is currently owned by institutional investors and hedge funds.
In other Delta Air Lines news, CFO Paul A. Jacobson sold 25,000 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $31.70, for a total transaction of $792,500.00. Also, CFO Paul A. Jacobson sold 18,000 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $29.00, for a total transaction of $522,000.00. Following the completion of the transaction, the chief financial officer now owns 453,478 shares of the company’s stock, valued at approximately $13,150,862. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,127 shares of company stock valued at $1,723,900. 0.63% of the stock is owned by company insiders.
A number of research analysts recently commented on the company. Cowen started coverage on Delta Air Lines in a report on Friday, May 29th. They issued a “buy” rating and a $33.00 price target for the company. Citigroup increased their target price on Delta Air Lines from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Credit Suisse Group restated a “market perform” rating and issued a $42.00 price target on shares of Delta Air Lines in a research note on Friday, June 12th. Goldman Sachs Group upped their price target on shares of Delta Air Lines from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, June 29th. Finally, Morgan Stanley initiated coverage on shares of Delta Air Lines in a report on Tuesday, September 8th. They set an “overweight” rating and a $50.00 price objective for the company. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Delta Air Lines has an average rating of “Buy” and a consensus target price of $47.21.
NYSE DAL traded up $0.11 during trading hours on Wednesday, reaching $33.62. The company’s stock had a trading volume of 170,498 shares, compared to its average volume of 35,210,531. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 2.23. The business has a 50-day simple moving average of $29.04 and a 200 day simple moving average of $28.43. Delta Air Lines, Inc. has a 52 week low of $17.51 and a 52 week high of $62.48. The stock has a market cap of $21.37 billion, a PE ratio of -5.75 and a beta of 1.32.
Delta Air Lines (NYSE:DAL) last posted its earnings results on Tuesday, July 14th. The transportation company reported ($4.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($4.24) by ($0.19). The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.40 billion. Delta Air Lines had a negative net margin of 10.74% and a negative return on equity of 4.02%. The firm’s revenue for the quarter was down 88.3% compared to the same quarter last year. During the same period last year, the company posted $2.35 earnings per share. As a group, equities analysts predict that Delta Air Lines, Inc. will post -9.45 EPS for the current year.
Delta Air Lines Profile
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 and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.
Read More: What is cost of equity?
Want to see what other hedge funds are holding DAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delta Air Lines, Inc. (NYSE:DAL).
Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.