Cartenna Capital LP Takes $49.40 Million Position in Delta Air Lines, Inc. (NYSE:DAL)

Cartenna Capital LP purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 816,580 shares of the transportation company's stock, valued at approximately $49,403,000. Delta Air Lines makes up approximately 2.4% of Cartenna Capital LP's holdings, making the stock its 15th biggest holding. Cartenna Capital LP owned 0.13% of Delta Air Lines at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Donoghue Forlines LLC bought a new position in Delta Air Lines during the fourth quarter valued at about $2,036,000. Mount Yale Investment Advisors LLC bought a new stake in Delta Air Lines in the fourth quarter worth about $3,593,000. Global Financial Private Client LLC raised its position in Delta Air Lines by 562.0% in the fourth quarter. Global Financial Private Client LLC now owns 11,260 shares of the transportation company's stock worth $681,000 after acquiring an additional 9,559 shares during the period. BluePath Capital Management LLC raised its position in Delta Air Lines by 23.9% in the fourth quarter. BluePath Capital Management LLC now owns 23,657 shares of the transportation company's stock worth $1,540,000 after acquiring an additional 4,567 shares during the period. Finally, Miracle Mile Advisors LLC bought a new stake in Delta Air Lines in the fourth quarter worth about $244,000. Institutional investors own 69.93% of the company's stock.

Insiders Place Their Bets

In related news, EVP Rahul D. Samant sold 17,970 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $69.08, for a total value of $1,241,367.60. Following the completion of the transaction, the executive vice president now directly owns 35,889 shares of the company's stock, valued at $2,479,212.12. This represents a 33.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William C. Carroll sold 6,783 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $65.94, for a total transaction of $447,271.02. Following the completion of the sale, the senior vice president now owns 10,016 shares of the company's stock, valued at $660,455.04. This trade represents a 40.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,776 shares of company stock worth $4,155,951. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on DAL shares. Jefferies Financial Group reaffirmed a "hold" rating and issued a $46.00 price objective (down previously from $85.00) on shares of Delta Air Lines in a research report on Tuesday, April 1st. StockNews.com downgraded shares of Delta Air Lines from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Citigroup reduced their target price on shares of Delta Air Lines from $80.00 to $72.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Barclays reduced their target price on shares of Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Raymond James reduced their target price on shares of Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $61.06.

Delta Air Lines Trading Down 0.2 %

Shares of DAL traded down $0.08 during mid-day trading on Tuesday, reaching $41.88. The company's stock had a trading volume of 2,577,688 shares, compared to its average volume of 11,319,517. The stock has a market cap of $27.35 billion, a PE ratio of 7.86, a P/E/G ratio of 0.75 and a beta of 1.23. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The company's fifty day moving average price is $46.84 and its two-hundred day moving average price is $57.03.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.38). Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The firm had revenue of $12.98 billion for the quarter, compared to the consensus estimate of $13.85 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. The company's quarterly revenue was down 5.6% compared to the same quarter last year. On average, analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 13th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.60 annualized dividend and a yield of 1.43%. Delta Air Lines's dividend payout ratio (DPR) is presently 10.64%.

Delta Air Lines Company 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 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, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.