Inverness Counsel LLC NY Increases Stake in Delta Air Lines, Inc. (NYSE:DAL)

Inverness Counsel LLC NY lifted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 29.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 162,932 shares of the transportation company’s stock after acquiring an additional 37,075 shares during the period. Inverness Counsel LLC NY’s holdings in Delta Air Lines were worth $7,048,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in Delta Air Lines by 6.2% in the first quarter. Envestnet Asset Management Inc. now owns 133,029 shares of the transportation company’s stock valued at $6,423,000 after buying an additional 7,804 shares during the period. Natixis Advisors L.P. raised its holdings in Delta Air Lines by 16.3% in the first quarter. Natixis Advisors L.P. now owns 50,758 shares of the transportation company’s stock valued at $2,450,000 after buying an additional 7,106 shares during the period. Glassman Wealth Services raised its holdings in Delta Air Lines by 10.8% in the first quarter. Glassman Wealth Services now owns 3,440 shares of the transportation company’s stock valued at $166,000 after buying an additional 334 shares during the period. Lakeview Capital Partners LLC raised its holdings in Delta Air Lines by 8.5% in the first quarter. Lakeview Capital Partners LLC now owns 8,292 shares of the transportation company’s stock valued at $400,000 after buying an additional 652 shares during the period. Finally, GSB Wealth Management LLC purchased a new position in Delta Air Lines in the first quarter valued at approximately $220,000. Institutional investors and hedge funds own 63.65% of the company’s stock.

In other news, Director David S. Taylor purchased 3,000 shares of the stock in a transaction that occurred on Monday, July 19th. The stock was acquired at an average price of $38.25 per share, with a total value of $114,750.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David S. Taylor bought 5,000 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, August 3rd. The stock was bought at an average price of $39.30 per share, with a total value of $196,500.00. The disclosure for this purchase can be found here. Insiders own 0.63% of the company’s stock.

Several research analysts recently commented on DAL shares. Redburn Partners started coverage on shares of Delta Air Lines in a report on Wednesday, August 11th. They issued a “neutral” rating on the stock. Morgan Stanley dropped their price objective on shares of Delta Air Lines from $73.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday. Jefferies Financial Group upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $60.00 in a research note on Tuesday, June 8th. MKM Partners started coverage on shares of Delta Air Lines in a research note on Thursday, June 10th. They set a “buy” rating and a $59.00 price objective on the stock. Finally, Raymond James upgraded shares of Delta Air Lines from a “market perform” rating to a “strong-buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $51.45.

Delta Air Lines stock traded down $0.40 during midday trading on Wednesday, hitting $39.04. The company’s stock had a trading volume of 181,902 shares, compared to its average volume of 12,217,085. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 20.83. The stock’s 50-day moving average price is $40.39 and its 200-day moving average price is $44.47. Delta Air Lines, Inc. has a 12 month low of $27.92 and a 12 month high of $52.28. The company has a market capitalization of $24.98 billion, a PE ratio of -3.76 and a beta of 1.41.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Tuesday, July 13th. The transportation company reported ($1.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.38) by $0.31. The firm had revenue of $7.13 billion for the quarter, compared to analysts’ expectations of $6.25 billion. Delta Air Lines had a negative return on equity of 398.80% and a negative net margin of 36.37%. Delta Air Lines’s revenue was up 385.6% on a year-over-year basis. During the same quarter last year, the business posted ($4.43) EPS. As a group, equities analysts anticipate that Delta Air Lines, Inc. will post -3.39 EPS for the current year.

About Delta Air Lines

Delta Air Lines, Inc engages in the provision of scheduled air transportation for passengers and cargo. It operates through the Airline and Refinery segments. The Airline segment provides scheduled air transportation for passengers and cargo. The Refinery segment consists of jet fuel and non-jet fuel products.

Recommended Story: What is operating income?

Want to see what other hedge funds are holding DAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delta Air Lines, Inc. (NYSE:DAL).

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

Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.