Wright Investors Service Inc. Sells 15,688 Shares of Delta Air Lines, Inc. $DAL

Key Points

• Wright Investors Service Inc. decreased its stake in Delta Air Lines by 35.5% during Q2, holding 28,549 shares valued at approximately $1.40 million.
• Institutional investors and hedge funds collectively own 69.93% of Delta's stock, indicating strong institutional interest in the company.
• CEO Edward H. Bastian sold 35,000 shares, reducing his ownership by 5.24%, while insider sales totaled $7.66 million over the last 90 days.

Wright Investors Service Inc. trimmed its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 35.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,549 shares of the transportation company's stock after selling 15,688 shares during the quarter. Wright Investors Service Inc.'s holdings in Delta Air Lines were worth $1,404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Continuum Advisory LLC lifted its stake in Delta Air Lines by 44.2% during the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock worth $35,000 after purchasing an additional 179 shares in the last quarter. JT Stratford LLC grew its stake in shares of Delta Air Lines by 1.2% during the 1st quarter. JT Stratford LLC now owns 16,403 shares of the transportation company's stock valued at $715,000 after buying an additional 200 shares during the period. one8zero8 LLC lifted its holdings in 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 in the last quarter. Mainstay Capital Management LLC ADV raised its stake 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 valued at $227,000 after purchasing an additional 246 shares in the last quarter. Finally, E&G Advisors LP grew its position in Delta Air Lines by 1.4% in the 1st quarter. E&G Advisors LP now owns 17,550 shares of the transportation company's stock worth $765,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company's stock.

Delta Air Lines Stock Performance

Shares of DAL traded up $0.36 during mid-day trading on Friday, reaching $59.83. 15,277,569 shares of the company's stock traded hands, compared to its average volume of 7,434,509. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38. The stock has a market capitalization of $39.07 billion, a P/E ratio of 8.67, 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 business's 50-day moving average price is $57.94 and its 200-day moving average price is $50.54.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $16.16 billion. During the same quarter in the previous year, the firm posted $2.36 earnings per share. The firm's revenue for the quarter was down .1% on a year-over-year basis. Equities analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Insider Buying and Selling

In other Delta Air Lines news, EVP Steven M. Sear sold 18,000 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president 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 SEC, which is accessible through this link. Also, Director Michael P. Huerta sold 2,500 shares of the business's 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 owned 33,245 shares of the company's stock, valued at approximately $2,017,971.50. The trade was a 6.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,473 shares of company stock worth $7,663,496 in the last ninety days. 0.96% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on DAL. Bernstein Bank increased their price target on shares of Delta Air Lines from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Friday, July 11th. Susquehanna set a $65.00 price target on shares of Delta Air Lines and gave the company a "positive" rating in a research report on Friday, July 11th. Barclays upped their price objective on shares of Delta Air Lines from $58.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. TD Cowen lifted their price objective on Delta Air Lines from $55.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, UBS Group set a $72.00 target price on Delta Air Lines in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $66.56.

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.