Brant Point Investment Management LLC Has $3.02 Million Holdings in Delta Air Lines, Inc. $DAL

Key Points

• Brant Point Investment Management LLC significantly increased its position in Delta Air Lines by 11,424.8%, owning 69,149 shares valued at approximately $3.02 million as of the recent SEC filing.
• Several other hedge funds, including Janney Montgomery Scott LLC and Charles Schwab Investment Management, also increased their stakes in Delta Air Lines, indicating strong institutional interest as 69.93% of the company's shares are held by institutional investors.
• Delta Air Lines announced a quarterly dividend raise to $0.1875 per share, reflecting a yield of 1.2%, up from the previous dividend of $0.15, showcasing financial strength despite a slight revenue decrease.

Brant Point Investment Management LLC raised its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 11,424.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 69,149 shares of the transportation company's stock after acquiring an additional 68,549 shares during the period. Brant Point Investment Management LLC's holdings in Delta Air Lines were worth $3,015,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its stake in Delta Air Lines by 5.9% in the first quarter. Janney Montgomery Scott LLC now owns 161,395 shares of the transportation company's stock valued at $7,037,000 after acquiring an additional 9,034 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Delta Air Lines by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,690,361 shares of the transportation company's stock valued at $160,900,000 after acquiring an additional 92,772 shares during the period. Exchange Traded Concepts LLC grew its stake in Delta Air Lines by 152.3% in the first quarter. Exchange Traded Concepts LLC now owns 12,567 shares of the transportation company's stock valued at $548,000 after acquiring an additional 7,586 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Delta Air Lines by 8.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company's stock valued at $1,670,000 after acquiring an additional 2,973 shares during the period. Finally, Jefferies Financial Group Inc. grew its stake in Delta Air Lines by 1,169.4% in the first quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company's stock valued at $316,000 after acquiring an additional 6,677 shares during the period. Institutional investors and hedge funds own 69.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DAL shares. HSBC raised their price objective on Delta Air Lines from $64.00 to $69.20 in a research note on Friday, July 11th. UBS Group set a $72.00 target price on Delta Air Lines in a report on Friday, July 11th. BNP Paribas Exane raised their target price on Delta Air Lines from $58.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft raised their target price on Delta Air Lines from $53.00 to $63.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, Wolfe Research raised their target price on Delta Air Lines from $56.00 to $63.00 in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $66.21.

Insiders Place Their Bets

In other news, EVP Steven M. Sear sold 18,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 97,505 shares in the company, valued at approximately $5,456,379.80. This represents a 15.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward H. Bastian sold 35,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the completion of the transaction, the chief executive officer owned 632,823 shares of the company's stock, valued at $35,615,278.44. The trade was a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,473 shares of company stock worth $7,663,496. 0.88% of the stock is owned by corporate insiders.

Delta Air Lines Stock Performance

NYSE:DAL opened at $61.25 on Thursday. 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, Inc. has a 52-week low of $34.74 and a 52-week high of $69.98. The firm has a market cap of $39.99 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 1.91 and a beta of 1.56. The business's fifty day moving average is $54.46 and its 200 day moving average is $50.85.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.09. The company had revenue of $15,507,000 billion for the quarter, compared to analyst estimates of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.The firm's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.36 EPS. Research analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st were paid a $0.1875 dividend. The ex-dividend date was Thursday, July 31st. This represents a $0.75 dividend on an annualized basis and a yield of 1.2%. This is an increase from Delta Air Lines's previous quarterly dividend of $0.15. Delta Air Lines's dividend payout ratio is currently 10.87%.

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 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.

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