Cornerstone Advisors Inc. Raises Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Cornerstone Advisors Inc. raised its stake in Delta Air Lines, Inc. (NYSE:DAL) by 76.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,213 shares of the transportation company’s stock after buying an additional 524 shares during the period. Cornerstone Advisors Inc.’s holdings in Delta Air Lines were worth $34,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Firestone Capital Management increased its holdings in Delta Air Lines by 65.4% in the second quarter. Firestone Capital Management now owns 1,138 shares of the transportation company’s stock valued at $32,000 after buying an additional 450 shares in the last quarter. Meridian Investment Counsel Inc. increased its position in shares of Delta Air Lines by 4.4% in the 1st quarter. Meridian Investment Counsel Inc. now owns 11,849 shares of the transportation company’s stock worth $338,000 after purchasing an additional 500 shares during the last quarter. Bogart Wealth LLC increased its position in shares of Delta Air Lines by 70.8% in the 1st quarter. Bogart Wealth LLC now owns 1,209 shares of the transportation company’s stock worth $34,000 after purchasing an additional 501 shares during the last quarter. Bedel Financial Consulting Inc. increased its position in shares of Delta Air Lines by 143.6% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 899 shares of the transportation company’s stock worth $25,000 after purchasing an additional 530 shares during the last quarter. Finally, Eudaimonia Partners LLC increased its position in shares of Delta Air Lines by 11.6% in the 1st quarter. Eudaimonia Partners LLC now owns 5,305 shares of the transportation company’s stock worth $151,000 after purchasing an additional 550 shares during the last quarter. 75.27% of the stock is owned by institutional investors.

In related news, Director David S. Taylor acquired 3,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was acquired at an average cost of $21.95 per share, for a total transaction of $65,850.00. Following the completion of the acquisition, the director now directly owns 8,460 shares of the company’s stock, valued at approximately $185,697. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.63% of the company’s stock.

Several research firms have recently weighed in on DAL. JPMorgan Chase & Co. dropped their target price on shares of Delta Air Lines from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Goldman Sachs Group boosted their target price on shares of Delta Air Lines from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, June 29th. Citigroup lifted their price target on shares of Delta Air Lines from $30.00 to $38.00 and gave the company a “buy” rating in a report on Monday, June 15th. ValuEngine upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Thursday, July 2nd. Finally, Barclays lowered shares of Delta Air Lines from an “overweight” rating to an “equal weight” rating in a research note on Monday, May 4th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $50.22.

Delta Air Lines stock opened at $24.97 on Friday. The firm has a 50 day simple moving average of $27.74 and a 200-day simple moving average of $35.14. The company has a debt-to-equity ratio of 2.85, a current ratio of 0.94 and a quick ratio of 0.91. The stock has a market capitalization of $15.93 billion, a PE ratio of -4.28 and a beta of 1.25. Delta Air Lines, Inc. has a 12-month low of $17.51 and a 12-month high of $62.53.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Tuesday, July 14th. The transportation company reported ($4.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.24) by ($0.19). The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.40 billion. Delta Air Lines had a negative net margin of 10.74% and a negative return on equity of 4.02%. The company’s revenue was down 88.3% on a year-over-year basis. During the same quarter last year, the business earned $2.35 earnings per share. On average, analysts forecast that Delta Air Lines, Inc. will post -8.77 earnings per share for the current fiscal year.

Delta Air Lines 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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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