Sage Mountain Advisors LLC Reduces Stake in Delta Air Lines, Inc. (NYSE:DAL)

Sage Mountain Advisors LLC lowered its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 24.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 16,165 shares of the transportation company’s stock after selling 5,105 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Delta Air Lines were worth $978,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in Delta Air Lines in the 4th quarter worth approximately $27,000. Roxbury Financial LLC purchased a new stake in Delta Air Lines in the 4th quarter worth approximately $29,000. Hemington Wealth Management lifted its holdings in Delta Air Lines by 48.1% in the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock worth $28,000 after buying an additional 154 shares during the period. Crews Bank & Trust purchased a new stake in Delta Air Lines in the 4th quarter worth approximately $30,000. Finally, Modus Advisors LLC purchased a new stake in Delta Air Lines in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Down 5.6 %

DAL stock opened at $50.28 on Tuesday. The firm has a market cap of $32.50 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 0.75 and a beta of 1.34. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. Delta Air Lines, Inc. has a twelve month low of $37.29 and a twelve month high of $69.98. The business has a 50 day moving average of $63.47 and a 200 day moving average of $57.95.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.09. The company had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.20 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. Delta Air Lines’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 earnings per share. On average, research analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, February 27th. Delta Air Lines’s payout ratio is 11.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DAL shares. StockNews.com upgraded Delta Air Lines from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised their target price on Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Jefferies Financial Group raised their target price on Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen raised their target price on Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Susquehanna raised their target price on Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $78.22.

Insiders Place Their Bets

In other Delta Air Lines news, CEO Edward H. Bastian sold 91,710 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the sale, the chief executive officer now owns 439,819 shares in the company, valued at $30,721,357.15. This represents a 17.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Rahul D. Samant sold 17,970 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $69.08, for a total value of $1,241,367.60. Following the completion of the sale, the executive vice president now owns 35,889 shares of the company’s stock, valued at approximately $2,479,212.12. The trade was a 33.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 162,886 shares of company stock worth $11,116,463 over the last quarter. 0.96% of the stock is currently owned by corporate insiders.

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.