Modus Advisors LLC Buys New Stake in Delta Air Lines, Inc. (NYSE:DAL)

Modus Advisors LLC bought a new position in Delta Air Lines, Inc. (NYSE:DAL) during the fourth quarter, Holdings Channel reports. The firm bought 542 shares of the transportation company’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in shares of Delta Air Lines by 50.4% during the 2nd quarter. Van ECK Associates Corp now owns 3,959 shares of the transportation company’s stock worth $188,000 after acquiring an additional 1,327 shares in the last quarter. Ritholtz Wealth Management increased its position in Delta Air Lines by 34.7% in the second quarter. Ritholtz Wealth Management now owns 7,658 shares of the transportation company’s stock worth $363,000 after purchasing an additional 1,972 shares during the last quarter. Natixis Advisors LLC raised its stake in Delta Air Lines by 12.2% during the second quarter. Natixis Advisors LLC now owns 149,706 shares of the transportation company’s stock valued at $7,102,000 after purchasing an additional 16,296 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Delta Air Lines by 1.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 55,381 shares of the transportation company’s stock valued at $2,627,000 after purchasing an additional 676 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Delta Air Lines by 95.2% in the 2nd quarter. TD Asset Management Inc now owns 384,871 shares of the transportation company’s stock worth $18,258,000 after buying an additional 187,656 shares during the last quarter. 69.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $83.00 price target on shares of Delta Air Lines in a report on Friday, November 15th. UBS Group reiterated a “buy” rating and issued a $88.00 target price on shares of Delta Air Lines in a report on Tuesday, November 26th. Barclays increased their price target on Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Citigroup lifted their price objective 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. Finally, BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Delta Air Lines presently has a consensus rating of “Buy” and a consensus target price of $75.83.

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $59.00 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. The company has a market capitalization of $38.07 billion, a PE ratio of 8.19, a P/E/G ratio of 1.21 and a beta of 1.35. The company has a 50 day moving average price of $61.69 and a 200-day moving average price of $51.35. Delta Air Lines, Inc. has a fifty-two week low of $36.34 and a fifty-two week high of $67.50.

Delta Air Lines (NYSE:DAL) last issued its 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 firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $2.03 earnings per share. As a group, equities analysts forecast that Delta Air Lines, Inc. will post 6.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at approximately $5,499,635.40. This trade represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alain Bellemare sold 19,490 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the completion of the transaction, the executive vice president now directly owns 121,961 shares of the company’s stock, valued at $6,739,564.86. This trade represents a 13.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,240 shares of company stock worth $8,044,893 in the last three months. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Company 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.