GAMMA Investing LLC Boosts Stock Position in Delta Air Lines, Inc. $DAL

Key Points

• GAMMA Investing LLC increased its stake in Delta Air Lines by 63.4%, owning 15,666 shares valued at approximately $770,000 after purchasing an additional 6,081 shares in Q2.
• Delta Air Lines recently reported earnings of $2.10 EPS, exceeding analysts' expectations of $2.01, though revenue was slightly below estimates at $15.51 billion.
• Analysts have set new price targets for Delta Air Lines, with UBS Group aiming for $72.00 and Goldman Sachs at $67.00, indicating a generally positive outlook for the stock.

GAMMA Investing LLC grew its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 63.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,666 shares of the transportation company's stock after buying an additional 6,081 shares during the period. GAMMA Investing LLC's holdings in Delta Air Lines were worth $770,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new position in shares of Delta Air Lines during the 1st quarter valued at $31,000. Zions Bancorporation National Association UT purchased a new position in shares of Delta Air Lines during the 1st quarter valued at $33,000. Hara Capital LLC purchased a new position in shares of Delta Air Lines during the 1st quarter valued at $35,000. N.E.W. Advisory Services LLC purchased a new position in shares of Delta Air Lines during the 1st quarter valued at $40,000. Finally, Private Wealth Management Group LLC lifted its holdings in Delta Air Lines by 104.8% during the 1st quarter. Private Wealth Management Group LLC now owns 991 shares of the transportation company's stock worth $43,000 after purchasing an additional 507 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company's stock.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $57.71 on Thursday. The firm has a market capitalization of $37.68 billion, a P/E ratio of 8.36, a P/E/G ratio of 1.79 and a beta of 1.51. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.74. The stock's 50-day simple moving average is $58.05 and its two-hundred day simple moving average is $50.68. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.09. The business had revenue of $15.51 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 company's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.36 EPS. As a group, equities analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group set a $72.00 price objective on Delta Air Lines in a report on Friday, July 11th. BNP Paribas Exane increased their price objective on Delta Air Lines from $58.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Barclays increased their price objective on Delta Air Lines from $58.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. The Goldman Sachs Group increased their price objective on Delta Air Lines from $60.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Delta Air Lines from $53.00 to $63.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $66.56.

Insiders Place Their Bets

In other news, EVP Steven M. Sear sold 18,000 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total transaction of $1,007,280.00. Following 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 sale 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 stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total value of $1,969,800.00. Following the transaction, the chief executive officer owned 632,823 shares in the company, valued at $35,615,278.44. This trade represents 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.

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.

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