Delta Air Lines, Inc. $DAL Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly reduced its holdings in Delta Air Lines by 90.1%, selling 287,143 shares and now owning only 31,531 shares worth approximately $1.375 million.
• Several institutional investors, including Janney Montgomery Scott LLC and Jefferies Financial Group Inc., increased their positions in Delta Air Lines, with Jefferies boosting its stake by 1,169.4%.
• Analysts have shown optimism for Delta Air Lines, with price targets raised by firms such as TD Cowen and Goldman Sachs, reflecting a consensus rating of "Buy" and a price target of around $66.21.

Trexquant Investment LP lessened its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 90.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,531 shares of the transportation company's stock after selling 287,143 shares during the period. Trexquant Investment LP's holdings in Delta Air Lines were worth $1,375,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DAL. Pacer Advisors Inc. lifted its holdings in Delta Air Lines by 5,224.6% during the 1st quarter. Pacer Advisors Inc. now owns 4,336,709 shares of the transportation company's stock worth $189,081,000 after purchasing an additional 4,255,262 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Delta Air Lines by 347.4% during the 1st quarter. Ameriprise Financial Inc. now owns 4,232,974 shares of the transportation company's stock valued at $184,909,000 after purchasing an additional 3,286,741 shares during the last quarter. Ninety One UK Ltd increased its position in shares of Delta Air Lines by 1,469.9% during the 1st quarter. Ninety One UK Ltd now owns 3,309,020 shares of the transportation company's stock valued at $144,273,000 after purchasing an additional 3,098,237 shares during the last quarter. Nuveen LLC bought a new position in shares of Delta Air Lines during the 1st quarter valued at about $122,849,000. Finally, Bank of New York Mellon Corp grew its position in Delta Air Lines by 66.9% during the 1st quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company's stock worth $257,918,000 after acquiring an additional 2,370,795 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company's stock.

Delta Air Lines Stock Performance

DAL traded down $0.90 on Thursday, reaching $60.49. 18,808,375 shares of the stock were exchanged, compared to its average volume of 6,117,115. The company's 50-day moving average price is $57.17 and its 200 day moving average price is $50.62. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33. The firm has a market capitalization of $39.50 billion, a PE ratio of 8.77, a PEG ratio of 1.92 and a beta of 1.51.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) 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 business had revenue of $15.51 billion during the quarter, compared to analysts' expectations of $16.16 billion. During the same quarter in the previous year, the firm posted $2.36 EPS. The company's revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

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

Analyst Upgrades and Downgrades

DAL has been the subject of several research analyst reports. TD Cowen increased their price objective on Delta Air Lines from $55.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Morgan Stanley lifted their price objective on Delta Air Lines from $88.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft boosted their price target on Delta Air Lines from $53.00 to $63.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Bernstein Bank upped their price objective on Delta Air Lines from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. Finally, HSBC upped their price objective on Delta Air Lines from $64.00 to $69.20 in a research report on Friday, July 11th. Two 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's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $66.21.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Steven M. Sear sold 18,000 shares of the firm's stock in a transaction 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 sale, the executive vice president directly owned 97,505 shares in the company, valued at $5,456,379.80. This trade represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward H. Bastian sold 35,000 shares of the firm'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 transaction, the chief executive officer directly owned 632,823 shares in the company, valued at approximately $35,615,278.44. The trade was a 5.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 136,473 shares of company stock valued at $7,663,496 over the last ninety days. 0.88% of the stock is owned by insiders.

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.