Kaufman Rossin Wealth LLC Purchases New Position in Delta Air Lines, Inc. $DAL

Key Points

• Kaufman Rossin Wealth LLC acquired 8,683 shares of Delta Air Lines, Inc. valued at approximately $427,000 in the second quarter, reflecting ongoing interest from institutional investors.
• Delta Air Lines reported $2.10 EPS for the quarter, surpassing estimates and showing a 7.24% net margin, although revenue declined slightly by 0.1% year-over-year.
• Research analysts are generally bullish on Delta, with several firms raising their price targets, now averaging $66.56, indicating strong confidence in the company's performance moving forward.

Kaufman Rossin Wealth LLC purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,683 shares of the transportation company's stock, valued at approximately $427,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DAL. Farther Finance Advisors LLC lifted its position in shares of Delta Air Lines by 8.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 15,637 shares of the transportation company's stock valued at $769,000 after acquiring an additional 1,246 shares during the period. CX Institutional grew its stake in shares of Delta Air Lines by 26.7% in the 2nd quarter. CX Institutional now owns 7,719 shares of the transportation company's stock valued at $380,000 after buying an additional 1,627 shares during the period. Assenagon Asset Management S.A. grew its stake in Delta Air Lines by 86.3% in the second quarter. Assenagon Asset Management S.A. now owns 449,929 shares of the transportation company's stock valued at $22,128,000 after acquiring an additional 208,391 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Delta Air Lines by 427.6% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 302,850 shares of the transportation company's stock worth $14,894,000 after purchasing an additional 245,450 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Delta Air Lines during the 2nd quarter valued at $386,364,000. 69.93% of the stock is currently owned by institutional investors.

Insider Transactions at Delta Air Lines

In related news, Director Michael P. Huerta sold 2,500 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total value of $151,750.00. Following the completion of the sale, the director owned 33,245 shares of the company's stock, valued at $2,017,971.50. This trade represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven M. Sear sold 18,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total value of $1,007,280.00. Following the transaction, the executive vice president owned 97,505 shares in the company, valued at $5,456,379.80. This trade represents a 15.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,473 shares of company stock valued at $7,663,496. Company insiders own 0.96% of the company's stock.

Delta Air Lines Trading Up 0.6%

Shares of DAL stock traded up $0.36 on Friday, hitting $59.83. 15,277,569 shares of the company's stock traded hands, compared to its average volume of 7,434,509. The stock has a market capitalization of $39.07 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 1.82 and a beta of 1.51. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98. The company's fifty day simple moving average is $57.94 and its 200 day simple moving average is $50.54. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.09. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.The firm had revenue of $15.51 billion during the quarter, compared to the consensus estimate of $16.16 billion. During the same quarter in the previous year, the company posted $2.36 earnings per share. The business's revenue was down .1% on a year-over-year basis. Equities analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DAL. HSBC upped their target price on shares of Delta Air Lines from $64.00 to $69.20 in a report on Friday, July 11th. The Goldman Sachs Group raised their price objective on Delta Air Lines from $60.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Citigroup increased their target price on shares of Delta Air Lines from $62.00 to $65.50 and gave the company a "buy" rating in a report on Friday, July 11th. Raymond James Financial increased their price objective on shares of Delta Air Lines from $60.00 to $68.00 in a research note on Friday, July 11th. Finally, Morgan Stanley lifted their target price on shares of Delta Air Lines from $88.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $66.56.

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