Wealth Enhancement Advisory Services LLC Has $9.30 Million Stock Holdings in Delta Air Lines, Inc. $DAL

Key Points

• Wealth Enhancement Advisory Services LLC has increased its stake in Delta Air Lines by 66.2% during Q2, owning approximately $9.30 million worth of shares.
• Analysts have boosted their target prices for Delta Air Lines, with Bernstein raising it to $66.00 and BNP Paribas Exane raising it to $70.00, reflecting a strong outlook for the company.
• Delta Air Lines reported $2.10 earnings per share, beating expectations, despite a slight year-over-year revenue decline of 0.1% to $15.51 billion.

Wealth Enhancement Advisory Services LLC boosted its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 66.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 182,790 shares of the transportation company's stock after buying an additional 72,813 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Delta Air Lines were worth $9,297,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in DAL. Wealth Preservation Advisors LLC acquired a new position in shares of Delta Air Lines during the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT acquired a new position in shares of Delta Air Lines during the 1st quarter worth approximately $33,000. Hara Capital LLC acquired a new position in shares of Delta Air Lines during the 1st quarter worth approximately $35,000. N.E.W. Advisory Services LLC bought a new position in shares of Delta Air Lines during the 1st quarter worth approximately $40,000. Finally, Private Wealth Management Group LLC boosted its stake in shares of Delta Air Lines by 104.8% during the 1st quarter. Private Wealth Management Group LLC now owns 991 shares of the transportation company's stock worth $43,000 after acquiring an additional 507 shares during the period. Institutional investors and hedge funds own 69.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Bernstein Bank lifted their target price on Delta Air Lines from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. Susquehanna set a $65.00 target price on Delta Air Lines and gave the stock a "positive" rating in a research note on Friday, July 11th. Dbs Bank lifted their target price on Delta Air Lines from $55.00 to $60.00 and gave the stock a "hold" rating in a research note on Wednesday, September 10th. Barclays boosted their price target 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. Finally, BNP Paribas Exane boosted their price target on Delta Air Lines from $58.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $66.56.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $58.93 on Tuesday. The business's fifty day simple moving average is $57.95 and its 200 day simple moving average is $50.58. The firm has a market capitalization of $38.48 billion, a P/E ratio of 8.54, a price-to-earnings-growth ratio of 1.82 and a beta of 1.51. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. 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 (NYSE:DAL - Get Free Report) last issued its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.09. The firm had revenue of $15.51 billion for the quarter, compared to analyst estimates of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.The business's revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $2.36 earnings per share. As a group, analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Insider Buying and Selling

In other news, EVP Steven M. Sear sold 18,000 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total value of $1,007,280.00. Following the completion of the transaction, the executive vice president directly owned 97,505 shares in the company, valued at approximately $5,456,379.80. This represents a 15.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward H. Bastian sold 35,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 632,823 shares of the company's stock, valued at $35,615,278.44. The trade was 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. 0.96% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding DAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delta Air Lines, Inc. (NYSE:DAL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.