Nykredit A S Takes Position in Delta Air Lines, Inc. $DAL

Key Points

• Nykredit A/S purchased 54,130 Delta Air Lines shares during the second quarter, worth approximately $5.07 million. Institutional investors collectively own nearly 70% of DAL’s outstanding stock.
• Delta reported quarterly earnings of $1.56 per share and revenue of $17.67 billion, exceeding analyst expectations; revenue increased 18.7% year over year.
• Analysts maintain a broadly positive outlook, with 23 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $100.36 versus the reported share price of $82.64.

Nykredit A S purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 54,130 shares of the transportation company's stock, valued at approximately $5,070,000.

Several other hedge funds have also recently bought and sold shares of the business. Parkside Financial Bank & Trust lifted its position in Delta Air Lines by 3.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,535 shares of the transportation company's stock worth $331,000 after acquiring an additional 129 shares in the last quarter. Range Advisory LLC bought a new position in shares of Delta Air Lines during the second quarter worth about $224,000. Advus Financial Partners LLC acquired a new position in shares of Delta Air Lines in the 2nd quarter worth approximately $226,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Delta Air Lines during the second quarter worth $28,829,000. Finally, Alan B Lancz & Associates Inc. bought a new position in shares of Delta Air Lines during the second quarter valued at approximately $211,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Delta Air Lines Price Performance

DAL opened at $82.64 on Tuesday. The company's 50 day simple moving average is $84.16 and its 200-day simple moving average is $77.79. The stock has a market capitalization of $54.35 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 1.10 and a beta of 1.29. Delta Air Lines, Inc. has a one year low of $55.03 and a one year high of $95.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.42 and a quick ratio of 0.35.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.07. The business had revenue of $17.67 billion during the quarter, compared to the consensus estimate of $17.43 billion. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. Delta Air Lines's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.10 earnings per share. Sell-side analysts anticipate that Delta Air Lines, Inc. will post 6.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DAL has been the topic of several recent analyst reports. TD Cowen cut their target price on Delta Air Lines from $112.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, August 24th. Sanford C. Bernstein reissued an "outperform" rating and issued a $106.00 price target on shares of Delta Air Lines in a research note on Monday, July 13th. Cantor Fitzgerald set a $112.00 price objective on shares of Delta Air Lines in a research note on Tuesday, July 14th. Rothschild & Co Redburn boosted their target price on shares of Delta Air Lines from $104.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Barclays lowered their price objective on Delta Air Lines from $105.00 to $95.00 and set an "overweight" rating on the stock in a report on Friday, September 11th. Twenty-three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Delta Air Lines presently has an average rating of "Moderate Buy" and an average target price of $100.36.

Insider Transactions at Delta Air Lines

In related news, CEO Edward Bastian sold 206,510 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $92.80, for a total value of $19,164,128.00. Following the sale, the chief executive officer owned 1,363,448 shares of the company's stock, valued at approximately $126,527,974.40. This trade represents a 13.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven Sear sold 40,460 shares of Delta Air Lines stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $93.55, for a total transaction of $3,785,033.00. Following the completion of the sale, the executive vice president owned 104,404 shares in the company, valued at $9,766,994.20. The trade was a 27.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 356,726 shares of company stock worth $33,081,037. 0.80% of the stock is currently owned by company insiders.

Delta Air Lines Profile

Delta Air Lines, Inc is a major U.S. airline that provides scheduled passenger air transportation throughout the United States and to destinations across North America, Latin America, Europe, Asia, Africa and the Middle East. The company also offers air cargo services and operates a loyalty program, SkyMiles, along with related travel and customer services.

Headquartered in Atlanta, Georgia, Delta operates a network of domestic and international routes through hubs and focus cities that include Atlanta, Boston, Detroit, Los Angeles, Minneapolis–Saint Paul, New York, Salt Lake City and Seattle.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.