11,290 Shares in Delta Air Lines, Inc. $DAL Acquired by Sivia Capital Partners LLC

Key Points

• Sivia Capital Partners LLC has made a new investment in Delta Air Lines by purchasing 11,290 shares valued at approximately $555,000 during the second quarter.
• Delta Air Lines CEO Edward H. Bastian recently sold 35,000 shares worth nearly $2 million, representing a 5.24% decrease in his ownership.
• Research firms have increased their price targets for Delta Air Lines' stock, with TD Cowen raising it from $55 to $66 and BNP Paribas Exane from $58 to $70, indicating strong positive sentiment from analysts.

Sivia Capital Partners LLC 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 13F filing with the Securities & Exchange Commission. The fund purchased 11,290 shares of the transportation company's stock, valued at approximately $555,000.

A number of other large investors have also modified their holdings of DAL. Pacer Advisors Inc. raised its stake in shares of Delta Air Lines by 5,224.6% in the first quarter. Pacer Advisors Inc. now owns 4,336,709 shares of the transportation company's stock worth $189,081,000 after purchasing an additional 4,255,262 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Delta Air Lines by 149.9% in the first quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company's stock worth $246,487,000 after purchasing an additional 3,577,489 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Delta Air Lines by 347.4% in the first quarter. Ameriprise Financial Inc. now owns 4,232,974 shares of the transportation company's stock worth $184,909,000 after purchasing an additional 3,286,741 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of Delta Air Lines by 1,469.9% in the first quarter. Ninety One UK Ltd now owns 3,309,020 shares of the transportation company's stock worth $144,273,000 after purchasing an additional 3,098,237 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Delta Air Lines in the first quarter worth about $122,849,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Delta Air Lines Price Performance

DAL traded up $0.36 during trading on Friday, hitting $59.83. The company's stock had a trading volume of 15,277,569 shares, compared to its average volume of 7,186,185. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The business's fifty day simple moving average is $57.88 and its 200 day simple moving average is $50.58. The firm has a market capitalization of $39.07 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 1.81 and a beta of 1.51.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, beating the consensus estimate 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 company had revenue of $15.51 billion for the quarter, compared to analyst estimates of $16.16 billion. During the same period last year, the company earned $2.36 earnings per share. Delta Air Lines's quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wolfe Research raised their price objective on Delta Air Lines from $56.00 to $63.00 in a research note on Monday, July 14th. The Goldman Sachs Group raised their price objective 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. Susquehanna set a $65.00 price objective on Delta Air Lines and gave the stock a "positive" rating in a research note on Friday, July 11th. Dbs Bank raised their target price on Delta Air Lines from $55.00 to $60.00 and gave the stock a "hold" rating in a report on Wednesday, September 10th. Finally, TD Cowen raised their target price on Delta Air Lines from $55.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, July 14th. One investment 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's stock. According to data from MarketBeat.com, Delta Air Lines has an average rating of "Moderate Buy" and a consensus price target of $66.56.

Insider Buying and Selling

In other news, Director Michael P. Huerta sold 2,500 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total value of $151,750.00. Following the sale, the director directly owned 33,245 shares of the company's stock, valued at $2,017,971.50. The trade was a 6.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the completion of the sale, the chief executive officer directly owned 632,823 shares in the company, valued at $35,615,278.44. This represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,473 shares of company stock valued at $7,663,496 in the last 90 days. Corporate insiders own 0.88% of the company's stock.

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.