Assetmark Inc. Grows Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

by · The Markets Daily

Assetmark Inc. boosted its holdings in Delta Air Lines, Inc. (NYSE:DAL – Free Report) by 694.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 29,976 shares of the transportation company’s stock after buying an additional 26,202 shares during the period. Assetmark Inc.’s holdings in Delta Air Lines were worth $1,307,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Delta Air Lines by 414.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company’s stock worth $32,000 after buying an additional 431 shares in the last quarter. Continuum Advisory LLC increased its holdings in Delta Air Lines by 44.2% in the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 179 shares during the last quarter. Hara Capital LLC bought a new stake in Delta Air Lines in the 1st quarter valued at $35,000. Private Wealth Management Group LLC lifted its stake in Delta Air Lines by 104.8% in the 1st quarter. Private Wealth Management Group LLC now owns 991 shares of the transportation company’s stock worth $43,000 after purchasing an additional 507 shares in the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of Delta Air Lines during the 1st quarter valued at about $47,000. 69.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Steven M. Sear sold 18,000 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total value of $1,007,280.00. Following the sale, the executive vice president owned 97,505 shares in the company, valued at $5,456,379.80. This trade represents a 15.58% 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 Alain Bellemare sold 45,423 shares of Delta Air Lines stock in a transaction on Friday, July 11th. The stock was sold at an average price of $55.56, for a total value of $2,523,701.88. Following the sale, the executive vice president owned 131,731 shares of the company’s stock, valued at approximately $7,318,974.36. This trade represents a 25.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,973 shares of company stock worth $7,511,746 in the last 90 days. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DAL. Wall Street Zen lowered Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Barclays raised their price target on Delta Air Lines from $58.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Dbs Bank downgraded Delta Air Lines from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. HSBC increased their target price on Delta Air Lines from $64.00 to $69.20 in a research report on Friday, July 11th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Delta Air Lines in a research report on Friday, July 11th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.21.

View Our Latest Stock Report on DAL

Delta Air Lines Price Performance

Delta Air Lines stock opened at $53.18 on Friday. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average price of $51.22 and a 200-day moving average price of $52.15. The firm has a market capitalization of $34.72 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 1.66 and a beta of 1.49.

Delta Air Lines (NYSE:DAL – Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.09. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. The business had revenue of $15,507,000 billion during the quarter, compared to the consensus estimate of $16.16 billion. During the same quarter last year, the firm earned $2.36 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, July 31st will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, July 31st. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.15. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.70%.

Delta Air Lines Profile

(Free Report)

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.

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