Slate Path Capital LP Sells 126,400 Shares of Delta Air Lines, Inc. $DAL

Slate Path Capital LP trimmed its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,762,898 shares of the transportation company’s stock after selling 126,400 shares during the quarter. Delta Air Lines makes up 1.5% of Slate Path Capital LP’s holdings, making the stock its 29th biggest holding. Slate Path Capital LP owned approximately 0.27% of Delta Air Lines worth $86,699,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Delta Air Lines by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 74,572,577 shares of the transportation company’s stock valued at $3,667,479,000 after buying an additional 1,648,071 shares during the last quarter. State Street Corp increased its position in Delta Air Lines by 2.6% in the 2nd quarter. State Street Corp now owns 23,059,848 shares of the transportation company’s stock valued at $1,134,083,000 after acquiring an additional 581,421 shares during the period. Geode Capital Management LLC raised its stake in shares of Delta Air Lines by 3.3% during the second quarter. Geode Capital Management LLC now owns 16,757,932 shares of the transportation company’s stock valued at $822,127,000 after acquiring an additional 527,570 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Delta Air Lines during the second quarter worth $386,364,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Delta Air Lines by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 6,214,853 shares of the transportation company’s stock worth $305,646,000 after purchasing an additional 299,308 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insiders Place Their Bets

In other Delta Air Lines news, SVP William C. Carroll sold 14,010 shares of Delta Air Lines stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total value of $858,112.50. Following the completion of the sale, the senior vice president directly owned 15,816 shares of the company’s stock, valued at approximately $968,730. The trade was a 46.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John E. Laughter sold 23,323 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the transaction, the executive vice president owned 81,109 shares in the company, valued at $5,055,523.97. This represents a 22.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.88% of the company’s stock.

Delta Air Lines Trading Up 3.7%

Shares of DAL stock opened at $69.92 on Thursday. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40. The stock has a 50 day simple moving average of $60.42 and a two-hundred day simple moving average of $56.74. The company has a market cap of $45.66 billion, a P/E ratio of 9.85, a PEG ratio of 1.58 and a beta of 1.38.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter. The firm had revenue of $8.40 billion for the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%. Research analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th were issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, October 16th. Delta Air Lines’s dividend payout ratio (DPR) is presently 10.56%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DAL. HSBC raised their target price on Delta Air Lines from $69.20 to $73.70 and gave the stock a “buy” rating in a research report on Friday, October 10th. Raymond James Financial raised their price objective on Delta Air Lines from $68.00 to $70.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 10th. Seaport Global Securities upped their target price on Delta Air Lines from $69.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Wall Street Zen downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Delta Air Lines in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $73.40.

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 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.