Skye Global Management LP Makes New $2.13 Million Investment in Delta Air Lines, Inc. (NYSE:DAL)

Skye Global Management LP purchased a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 42,000 shares of the transportation company’s stock, valued at approximately $2,133,000.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in Delta Air Lines by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 872,836 shares of the transportation company’s stock worth $41,784,000 after acquiring an additional 8,797 shares during the period. Wahed Invest LLC grew its stake in shares of Delta Air Lines by 14.0% during the 1st quarter. Wahed Invest LLC now owns 3,134 shares of the transportation company’s stock worth $150,000 after acquiring an additional 386 shares during the period. Swedbank AB bought a new stake in Delta Air Lines in the 1st quarter valued at about $5,646,000. Atria Investments Inc purchased a new stake in Delta Air Lines during the first quarter valued at about $1,152,000. Finally, Burney Co. boosted its position in Delta Air Lines by 159.3% during the first quarter. Burney Co. now owns 14,946 shares of the transportation company’s stock worth $715,000 after purchasing an additional 9,183 shares during the period. 69.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP William C. Carroll sold 21,530 shares of Delta Air Lines 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 transaction, the senior vice president now owns 19,756 shares in the company, valued at approximately $1,197,608.72. The trade was a 52.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.46, for a total value of $173,128.26. Following the sale, the executive vice president now owns 108,990 shares of the company’s stock, valued at $5,499,635.40. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,240 shares of company stock valued at $8,044,893. 0.96% of the stock is currently owned by corporate insiders.

Delta Air Lines Stock Performance

NYSE DAL opened at $63.62 on Friday. Delta Air Lines, Inc. has a 52-week low of $35.46 and a 52-week high of $66.25. The company has a fifty day moving average of $56.41 and a 200-day moving average of $49.47. The company has a market capitalization of $41.05 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.21 and a beta of 1.33. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same period last year, the firm earned $2.03 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts predict that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s payout ratio is currently 8.33%.

Analyst Ratings Changes

A number of analysts recently commented on DAL shares. Jefferies Financial Group upped their price target on shares of Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Bank of America increased their price objective on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 11th. TD Cowen lifted their target price on Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. UBS Group reissued a “buy” rating and issued a $88.00 price target on shares of Delta Air Lines in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $75.83.

Delta Air Lines 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.