ProShare Advisors LLC Has $4.48 Million Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

ProShare Advisors LLC lessened its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 15.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 94,379 shares of the transportation company’s stock after selling 17,824 shares during the quarter. ProShare Advisors LLC’s holdings in Delta Air Lines were worth $4,477,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new position in shares of Delta Air Lines in the 2nd quarter worth $36,000. Rise Advisors LLC boosted its stake in Delta Air Lines by 122.5% in the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after purchasing an additional 452 shares during the period. Unique Wealth Strategies LLC acquired a new stake in shares of Delta Air Lines in the 2nd quarter valued at about $40,000. Richard W. Paul & Associates LLC boosted its position in shares of Delta Air Lines by 68.7% during the second quarter. Richard W. Paul & Associates LLC now owns 877 shares of the transportation company’s stock worth $42,000 after buying an additional 357 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in Delta Air Lines during the 4th quarter worth approximately $43,000. Institutional investors own 69.93% of the company’s stock.

Insider Activity

In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of Delta Air Lines stock in a transaction on Friday, July 12th. The stock was acquired at an average price of $43.90 per share, with a total value of $439,000.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at $878,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

NYSE:DAL opened at $51.81 on Friday. The firm’s fifty day simple moving average is $42.54 and its 200 day simple moving average is $46.40. The stock has a market cap of $33.44 billion, a P/E ratio of 7.45, a price-to-earnings-growth ratio of 0.90 and a beta of 1.34. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. Delta Air Lines, Inc. has a twelve month low of $30.60 and a twelve month high of $53.86.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.01). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The firm had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.45 billion. During the same period in the previous year, the company earned $2.68 earnings per share. Delta Air Lines’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts predict that Delta Air Lines, Inc. will post 6.18 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.16%. The ex-dividend date is Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is 8.63%.

Wall Street Analyst Weigh In

Several brokerages recently commented on DAL. Sanford C. Bernstein reduced their price target on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, July 12th. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Jefferies Financial Group cut their target price on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, TD Cowen lowered their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $61.52.

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.