Mainstay Capital Management LLC ADV Acquires 5,935 Shares of Delta Air Lines, Inc. $DAL

Key Points

• Mainstay Capital Management LLC ADV increased its stake in Delta Air Lines, purchasing an additional 5,935 shares and raising its ownership by 114.2% in the second quarter, bringing total holdings to 11,134 shares valued at approximately $548,000.
• Multiple institutional investors have boosted their positions in Delta Air Lines, including Janney Montgomery Scott LLC and Charles Schwab Investment Management, indicating strong institutional interest in the company.
• Equity analysts have recently raised their price targets for Delta Air Lines, with a consensus rating of “Buy” and a consensus target price of $67.84, suggesting positive growth prospects for the airline.

Mainstay Capital Management LLC ADV boosted its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 114.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,134 shares of the transportation company's stock after buying an additional 5,935 shares during the period. Mainstay Capital Management LLC ADV's holdings in Delta Air Lines were worth $548,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DAL shares. Bernstein Bank lifted their price target on Delta Air Lines from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. Seaport Global Securities boosted their target price on Delta Air Lines from $69.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, September 11th. Citigroup boosted their target price on Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a research note on Friday, July 11th. The Goldman Sachs Group boosted their target price on Delta Air Lines from $60.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Dbs Bank upgraded Delta Air Lines from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating and nineteen have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $67.84.

Insider Transactions at Delta Air Lines

In other news, Director Michael P. Huerta sold 2,500 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total value of $151,750.00. Following the transaction, the director owned 33,245 shares of the company's stock, valued at approximately $2,017,971.50. This represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alain Bellemare sold 45,423 shares of the company's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $55.56, for a total transaction of $2,523,701.88. Following the completion of the transaction, the executive vice president directly owned 131,731 shares in the company, valued at approximately $7,318,974.36. The trade was a 25.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,473 shares of company stock valued at $7,663,496. Corporate insiders own 0.88% of the company's stock.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $57.13 on Thursday. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98. The business has a fifty day moving average price of $58.40 and a 200-day moving average price of $51.40. 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 $37.30 billion, a P/E ratio of 8.28, a PEG ratio of 1.55 and a beta of 1.50.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $16.16 billion. During the same period last year, the company earned $2.36 earnings per share. The business's revenue for the quarter was down .1% on a year-over-year basis. As a group, equities research analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. Delta Air Lines's dividend payout ratio is presently 10.87%.

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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