QRG Capital Management Inc. Grows Position in Delta Air Lines, Inc. $DAL

Key Points

• QRG Capital Management increased its Delta Air Lines position by 13.8% in the second quarter, holding 175,873 shares valued at approximately $16.7 million. Institutional investors collectively own 69.93% of DAL.
• Delta reported quarterly EPS of $1.56, exceeding estimates of $1.49, while revenue rose 18.7% year over year to $17.67 billion.
• Despite recent insider selling totaling about $33.1 million over three months, analysts remain positive: 23 rate the stock Buy and two Hold, with a consensus “Moderate Buy” rating and an average price target of $100.36.

QRG Capital Management Inc. grew its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 13.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,873 shares of the transportation company's stock after purchasing an additional 21,329 shares during the quarter. QRG Capital Management Inc.'s holdings in Delta Air Lines were worth $16,730,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DAL. Envestnet Portfolio Solutions Inc. boosted its holdings in Delta Air Lines by 1.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 30,318 shares of the transportation company's stock worth $2,840,000 after buying an additional 474 shares in the last quarter. Altar Rock LLC acquired a new stake in Delta Air Lines during the second quarter valued at $243,000. Junto Capital Management LP purchased a new position in Delta Air Lines in the second quarter valued at $21,254,000. Sequoia Financial Advisors LLC increased its holdings in Delta Air Lines by 4.9% in the second quarter. Sequoia Financial Advisors LLC now owns 56,887 shares of the transportation company's stock valued at $5,328,000 after buying an additional 2,647 shares in the last quarter. Finally, National Pension Service raised its position in shares of Delta Air Lines by 20.3% in the second quarter. National Pension Service now owns 66,813 shares of the transportation company's stock worth $6,258,000 after acquiring an additional 11,279 shares during the period. 69.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Alain Bellemare sold 35,000 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $92.72, for a total transaction of $3,245,200.00. Following the completion of the sale, the executive vice president owned 95,025 shares of the company's stock, valued at $8,810,718. This represents a 26.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Sear sold 40,460 shares of the stock in a transaction dated 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 of the company's stock, valued at $9,766,994.20. This trade represents 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 valued at $33,081,037. 0.80% of the stock is owned by company insiders.

Delta Air Lines Stock Down 2.6%

DAL opened at $81.73 on Thursday. Delta Air Lines, Inc. has a twelve month low of $55.03 and a twelve month high of $95.68. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $84.04 and a 200 day moving average price of $78.08. The company has a market cap of $53.75 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DAL shares. JPMorgan Chase & Co. increased their target price on shares of Delta Air Lines from $85.00 to $114.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Raymond James Financial cut their price target on Delta Air Lines from $104.00 to $98.00 and set an "outperform" rating for the company in a research note on Monday, August 24th. Jefferies Financial Group upped their price target on Delta Air Lines from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Weiss Ratings raised Delta Air Lines from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, July 21st. Finally, Argus set a $105.00 price objective on Delta Air Lines in a research report on Tuesday, July 14th. Twenty-three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $100.36.

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.

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