Invenomic Capital Management LP Makes New $3.27 Million Investment in Delta Air Lines, Inc. (NYSE:DAL)

Invenomic Capital Management LP purchased a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 64,465 shares of the transportation company’s stock, valued at approximately $3,274,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DAL. Future Financial Wealth Managment LLC bought a new position in shares of Delta Air Lines during the third quarter valued at $25,000. Kimelman & Baird LLC bought a new position in shares of Delta Air Lines during the second quarter valued at $31,000. Ashton Thomas Securities LLC bought a new position in shares of Delta Air Lines during the third quarter valued at $31,000. Strategic Financial Concepts LLC bought a new position in shares of Delta Air Lines during the second quarter valued at $36,000. Finally, Unique Wealth Strategies LLC bought a new position in shares of Delta Air Lines during the second quarter valued at $40,000. 69.93% of the stock is owned by institutional investors.

Insider Transactions at Delta Air Lines

In other news, SVP William C. Carroll sold 21,530 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $60.62, for a total value of $1,305,148.60. Following the completion of the transaction, the senior vice president now owns 19,756 shares of the company’s stock, valued at $1,197,608.72. This represents a 52.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Edward H. Bastian sold 68,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $56.33, for a total value of $3,830,440.00. Following the completion of the transaction, the chief executive officer now directly owns 439,819 shares of the company’s stock, valued at approximately $24,775,004.27. This trade represents a 13.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,240 shares of company stock valued at $8,044,893 over the last 90 days. Company insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

DAL has been the topic of a number of research analyst reports. TD Cowen upped their price target on Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Barclays upped their price objective on Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Susquehanna upped their price objective on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 9th. Bank of America upped their price objective on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, UBS Group reiterated a “buy” rating and set a $88.00 price objective on shares of Delta Air Lines in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $75.83.

Delta Air Lines Stock Performance

Shares of DAL opened at $62.56 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The business has a 50-day simple moving average of $57.37 and a two-hundred day simple moving average of $49.64. The stock has a market cap of $40.37 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 1.21 and a beta of 1.35. Delta Air Lines, Inc. has a 52 week low of $36.34 and a 52 week high of $66.25.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). The company had revenue of $15.68 billion during 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 business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.03 EPS. On average, analysts expect that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is 8.33%.

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.