Confluence Investment Management LLC boosted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 109.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 518,147 shares of the transportation company’s stock after buying an additional 271,049 shares during the quarter. Confluence Investment Management LLC owned approximately 0.08% of Delta Air Lines worth $14,783,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DAL. GQG Partners LLC acquired a new stake in Delta Air Lines in the 4th quarter valued at $120,638,000. Norges Bank acquired a new stake in Delta Air Lines in the 4th quarter valued at $116,385,000. Morgan Stanley boosted its stake in Delta Air Lines by 52.8% in the 1st quarter. Morgan Stanley now owns 5,726,585 shares of the transportation company’s stock valued at $163,379,000 after buying an additional 1,979,986 shares in the last quarter. Alliancebernstein L.P. raised its position in Delta Air Lines by 18.0% in the 4th quarter. Alliancebernstein L.P. now owns 8,147,971 shares of the transportation company’s stock valued at $476,493,000 after purchasing an additional 1,241,210 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Delta Air Lines by 27.0% in the 4th quarter. Janus Henderson Group PLC now owns 5,455,725 shares of the transportation company’s stock valued at $319,050,000 after purchasing an additional 1,159,318 shares during the last quarter. 75.69% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director David S. Taylor bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were acquired at an average price of $21.95 per share, for a total transaction of $65,850.00. Following the completion of the acquisition, the director now owns 8,460 shares of the company’s stock, valued at approximately $185,697. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Berkshire Hathaway Inc sold 7,747,766 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $24.73, for a total value of $191,602,253.18. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

Several brokerages have issued reports on DAL. ValuEngine upgraded Delta Air Lines from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Citigroup lifted their price objective on Delta Air Lines from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Deutsche Bank cut their price objective on Delta Air Lines from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. UBS Group dropped their target price on Delta Air Lines from $62.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. Finally, Zacks Investment Research raised Delta Air Lines from a “sell” rating to a “hold” rating and set a $31.00 price objective for the company in a research note on Wednesday. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $52.53.

Shares of DAL stock traded down $1.22 on Friday, hitting $26.79. 16,257,742 shares of the stock were exchanged, compared to its average volume of 64,449,524. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $17.44 billion, a P/E ratio of 5.20 and a beta of 1.24. The business has a 50-day moving average of $26.38 and a 200 day moving average of $40.74. Delta Air Lines, Inc. has a fifty-two week low of $17.51 and a fifty-two week high of $63.44.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Wednesday, April 22nd. The transportation company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.21. The company had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $9.33 billion. Delta Air Lines had a return on equity of 25.95% and a net margin of 7.76%. Delta Air Lines’s revenue for the quarter was down 18.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. As a group, research analysts forecast that Delta Air Lines, Inc. will post -7.65 EPS for the current fiscal year.

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 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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