SCS Capital Management LLC Invests $567,000 in Delta Air Lines, Inc. $DAL

Key Points

• SCS Capital Management LLC has acquired 13,010 new shares in Delta Air Lines, valued at around $567,000, as indicated in their recent 13F filing.
• Delta Air Lines reported $2.10 earnings per share for the latest quarter, surpassing the consensus estimate of $2.01, though revenue slightly declined year-over-year.
• The company has recently increased its quarterly dividend to $0.1875, representing a 1.2% dividend yield, up from a previous quarterly dividend of $0.15.

SCS Capital Management LLC acquired a new stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,010 shares of the transportation company's stock, valued at approximately $567,000.

Several other hedge funds also recently bought and sold shares of the business. Continuum Advisory LLC raised its stake in Delta Air Lines by 44.2% during the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock valued at $35,000 after acquiring an additional 179 shares during the last quarter. JT Stratford LLC boosted its holdings in shares of Delta Air Lines by 1.2% during the first quarter. JT Stratford LLC now owns 16,403 shares of the transportation company's stock worth $715,000 after purchasing an additional 200 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Delta Air Lines by 1.1% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 21,148 shares of the transportation company's stock worth $1,296,000 after purchasing an additional 222 shares during the last quarter. one8zero8 LLC raised its position in shares of Delta Air Lines by 1.1% in the 1st quarter. one8zero8 LLC now owns 21,405 shares of the transportation company's stock worth $933,000 after buying an additional 225 shares during the period. Finally, Mainstay Capital Management LLC ADV raised its position in shares of Delta Air Lines by 5.0% in the 1st quarter. Mainstay Capital Management LLC ADV now owns 5,199 shares of the transportation company's stock worth $227,000 after buying an additional 246 shares during the period. Institutional investors own 69.93% of the company's stock.

Insider Transactions at Delta Air Lines

In related news, Director Michael P. Huerta sold 2,500 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total value of $151,750.00. Following the completion of the transaction, the director owned 33,245 shares of the company's stock, valued at $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 is available at this hyperlink. Also, EVP Alain Bellemare sold 45,423 shares of the stock in a transaction dated 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 of the company's stock, valued at $7,318,974.36. This trade represents a 25.64% decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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 Stock Performance

Shares of NYSE DAL traded down $0.50 during mid-day trading on Friday, hitting $59.94. The company had a trading volume of 6,769,154 shares, compared to its average volume of 6,842,945. 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 business's 50-day simple moving average is $57.35 and its 200-day simple moving average is $50.61. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The firm has a market cap of $39.14 billion, a P/E ratio of 8.69, a PEG ratio of 1.88 and a beta of 1.51.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.09. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. The business had revenue of $15.51 billion during the quarter, compared to analysts' expectations of $16.16 billion. During the same quarter last year, the company earned $2.36 earnings per share. The firm's revenue was down .1% on a year-over-year basis. As a group, analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, July 31st were given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 1.3%. This is a boost from Delta Air Lines's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, July 31st. Delta Air Lines's dividend payout ratio (DPR) is currently 10.87%.

Analyst Ratings Changes

DAL has been the topic of several research reports. Wolfe Research raised their price objective on Delta Air Lines from $56.00 to $63.00 in a research report on Monday, July 14th. Barclays lifted their target price on Delta Air Lines from $58.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Bernstein Bank lifted their target price 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. Jefferies Financial Group boosted their price objective on Delta Air Lines from $56.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, July 14th. Finally, The Goldman Sachs Group boosted their price objective on Delta Air Lines from $60.00 to $67.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Delta Air Lines currently has a consensus rating of "Buy" and an average price target of $66.93.

Delta Air Lines Company 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.