Hodges Capital Management Inc. Reduces Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Hodges Capital Management Inc. cut its stake in Delta Air Lines, Inc. (NYSE:DAL) by 42.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,374 shares of the transportation company’s stock after selling 24,835 shares during the period. Hodges Capital Management Inc.’s holdings in Delta Air Lines were worth $1,021,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bedel Financial Consulting Inc. increased its stake in shares of Delta Air Lines by 143.6% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 899 shares of the transportation company’s stock worth $25,000 after purchasing an additional 530 shares in the last quarter. Campbell Wealth Management purchased a new position in shares of Delta Air Lines during the 2nd quarter worth approximately $25,000. Sandy Spring Bank purchased a new position in shares of Delta Air Lines during the 2nd quarter worth approximately $25,000. Wallington Asset Management LLC purchased a new position in shares of Delta Air Lines during the 2nd quarter worth approximately $28,000. Finally, Bourgeon Capital Management LLC increased its stake in shares of Delta Air Lines by 400.0% during the 2nd quarter. Bourgeon Capital Management LLC now owns 1,000 shares of the transportation company’s stock worth $28,000 after purchasing an additional 800 shares in the last quarter. 58.31% of the stock is owned by institutional investors and hedge funds.

Shares of DAL opened at $31.47 on Friday. The firm has a market cap of $20.07 billion, a PE ratio of -1.89 and a beta of 1.32. The company’s fifty day moving average is $31.66 and its two-hundred day moving average is $27.54. Delta Air Lines, Inc. has a fifty-two week low of $17.51 and a fifty-two week high of $62.48. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 2.23.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Sunday, October 18th. The transportation company reported ($3.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($3.10) by ($0.20). The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.12 billion. Delta Air Lines had a negative net margin of 10.74% and a negative return on equity of 4.02%. The firm’s revenue for the quarter was down 75.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.32 EPS. As a group, equities research analysts anticipate that Delta Air Lines, Inc. will post -10.06 earnings per share for the current year.

DAL has been the subject of a number of recent research reports. UBS Group dropped their price objective on shares of Delta Air Lines from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday. ValuEngine raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Morgan Stanley lowered their target price on shares of Delta Air Lines from $54.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday. Goldman Sachs Group lifted their target price on shares of Delta Air Lines from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, June 29th. Finally, Barclays lifted their target price on shares of Delta Air Lines from $26.00 to $30.00 in a research note on Friday, September 18th. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $44.67.

In related news, CFO Paul A. Jacobson sold 18,000 shares of Delta Air Lines stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.00, for a total transaction of $522,000.00. Following the transaction, the chief financial officer now owns 453,478 shares in the company, valued at approximately $13,150,862. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul A. Jacobson sold 25,000 shares of Delta Air Lines stock in a transaction on Friday, August 28th. The shares were sold at an average price of $31.70, for a total transaction of $792,500.00. In the last quarter, insiders sold 57,127 shares of company stock worth $1,723,900. 0.63% of the stock is owned by company insiders.

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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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