Slate Path Capital LP Sells 3,511,855 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Slate Path Capital LP reduced its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 54.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,975,145 shares of the transportation company's stock after selling 3,511,855 shares during the quarter. Delta Air Lines accounts for about 3.3% of Slate Path Capital LP's investment portfolio, making the stock its 11th largest holding. Slate Path Capital LP owned about 0.46% of Delta Air Lines worth $179,996,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Donoghue Forlines LLC bought a new stake in Delta Air Lines during the 4th quarter worth about $2,036,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Delta Air Lines during the 4th quarter worth approximately $3,593,000. Global Financial Private Client LLC increased its holdings in shares of Delta Air Lines by 562.0% during the 4th quarter. Global Financial Private Client LLC now owns 11,260 shares of the transportation company's stock worth $681,000 after acquiring an additional 9,559 shares during the last quarter. BluePath Capital Management LLC raised its stake in Delta Air Lines by 23.9% in the 4th quarter. BluePath Capital Management LLC now owns 23,657 shares of the transportation company's stock valued at $1,540,000 after acquiring an additional 4,567 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new stake in Delta Air Lines during the 4th quarter valued at $244,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP William C. Carroll sold 6,783 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $65.94, for a total transaction of $447,271.02. Following the sale, the senior vice president now owns 10,016 shares in the company, valued at $660,455.04. This represents a 40.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rahul D. Samant sold 38,023 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the transaction, the executive vice president now owns 52,789 shares in the company, valued at $3,425,478.21. The trade was a 41.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,776 shares of company stock valued at $4,155,951 over the last ninety days. 0.96% of the stock is owned by company insiders.

Delta Air Lines Price Performance

Delta Air Lines stock traded down $0.38 during midday trading on Friday, reaching $41.64. The company's stock had a trading volume of 7,190,385 shares, compared to its average volume of 9,240,796. The business has a 50-day moving average price of $47.30 and a 200-day moving average price of $57.01. The stock has a market cap of $27.19 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 0.75 and a beta of 1.23. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its earnings results on Wednesday, April 9th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.38). Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The firm had revenue of $12.98 billion during the quarter, compared to the consensus estimate of $13.85 billion. During the same quarter in the prior year, the business posted $0.45 earnings per share. Delta Air Lines's revenue for the quarter was down 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.44%. The ex-dividend date is Tuesday, May 13th. Delta Air Lines's payout ratio is presently 10.64%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DAL. The Goldman Sachs Group dropped their price objective on shares of Delta Air Lines from $83.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. UBS Group cut shares of Delta Air Lines from a "buy" rating to a "neutral" rating and lowered their price target for the company from $77.00 to $42.00 in a report on Monday, April 7th. TD Cowen boosted their price objective on Delta Air Lines from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. Barclays decreased their target price on Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Raymond James lowered their price target on shares of Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.06.

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.