Range Financial Group LLC Makes New $363,000 Investment in Delta Air Lines, Inc. (NYSE:DAL)

Range Financial Group LLC bought a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,997 shares of the transportation company’s stock, valued at approximately $363,000.

A number of other hedge funds have also recently modified their holdings of DAL. Future Financial Wealth Managment LLC purchased a new position in shares of Delta Air Lines during the third quarter worth about $25,000. Modus Advisors LLC acquired a new stake in shares of Delta Air Lines in the 4th quarter valued at about $33,000. Versant Capital Management Inc grew its stake in Delta Air Lines by 829.2% during the 4th quarter. Versant Capital Management Inc now owns 604 shares of the transportation company’s stock worth $37,000 after buying an additional 539 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Delta Air Lines during the third quarter worth approximately $31,000. Finally, Kimelman & Baird LLC purchased a new stake in Delta Air Lines in the second quarter valued at approximately $31,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Trading Up 1.8 %

Shares of DAL stock opened at $61.13 on Wednesday. Delta Air Lines, Inc. has a fifty-two week low of $36.34 and a fifty-two week high of $67.50. The firm’s 50 day moving average price is $61.95 and its two-hundred day moving average price is $51.59. The stock has a market cap of $39.45 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 1.21 and a beta of 1.35. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). The business had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company posted $2.03 earnings per share. On average, analysts anticipate that Delta Air Lines, Inc. will post 6.08 EPS for the current year.

Insider Activity

In other news, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the sale, the senior vice president now owns 19,756 shares in the company, valued at $1,197,608.72. This trade represents a 52.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven M. Sear sold 10,279 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $58.72, for a total transaction of $603,582.88. Following the transaction, the executive vice president now directly owns 78,459 shares in the company, valued at approximately $4,607,112.48. The trade was a 11.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,240 shares of company stock worth $8,044,893. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Sanford C. Bernstein upped their target price on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Citigroup increased their target price on shares of Delta Air Lines from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. UBS Group reaffirmed a “buy” rating and set a $88.00 price objective on shares of Delta Air Lines in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group increased their price target on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $77.06.

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 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.