Glacier Peak Capital LLC Purchases New Holdings in Delta Air Lines, Inc. (DAL)

Glacier Peak Capital LLC bought a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 124,000 shares of the transportation company’s stock, valued at approximately $6,796,000. Delta Air Lines accounts for 4.1% of Glacier Peak Capital LLC’s portfolio, making the stock its 8th largest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Credit Capital Investments LLC grew its holdings in Delta Air Lines by 145.0% during the 4th quarter. Credit Capital Investments LLC now owns 14,700 shares of the transportation company’s stock worth $823,000 after acquiring an additional 8,700 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of Delta Air Lines by 9.4% during the first quarter. Pinnacle Associates Ltd. now owns 249,647 shares of the transportation company’s stock worth $13,683,000 after purchasing an additional 21,430 shares in the last quarter. Chemical Bank boosted its position in shares of Delta Air Lines by 11.9% during the fourth quarter. Chemical Bank now owns 22,661 shares of the transportation company’s stock worth $1,269,000 after purchasing an additional 2,415 shares in the last quarter. Clinton Group Inc. bought a new position in shares of Delta Air Lines during the first quarter worth $592,000. Finally, Geode Capital Management LLC boosted its position in shares of Delta Air Lines by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 6,454,092 shares of the transportation company’s stock worth $360,748,000 after purchasing an additional 201,722 shares in the last quarter. 86.41% of the stock is owned by hedge funds and other institutional investors.

In other Delta Air Lines news, insider Steven M. Sear sold 10,247 shares of the stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $54.35, for a total transaction of $556,924.45. Following the transaction, the insider now owns 59,494 shares in the company, valued at approximately $3,233,498.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO W Gilbert West sold 17,250 shares of the stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $55.00, for a total transaction of $948,750.00. Following the transaction, the chief operating officer now owns 119,447 shares in the company, valued at approximately $6,569,585. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,497 shares of company stock worth $3,543,174. Company insiders own 0.33% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. Imperial Capital lifted their price target on shares of Delta Air Lines from $68.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, June 1st. Morgan Stanley lifted their price target on shares of Delta Air Lines from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, April 20th. Zacks Investment Research cut shares of Delta Air Lines from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Buckingham Research cut their price objective on shares of Delta Air Lines from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 7th. Finally, ValuEngine cut shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Delta Air Lines presently has a consensus rating of “Buy” and an average target price of $68.60.

NYSE:DAL traded up $0.35 on Thursday, hitting $55.00. 28,872 shares of the company’s stock were exchanged, compared to its average volume of 7,700,446. The stock has a market capitalization of $38.50 billion, a PE ratio of 11.12 and a beta of 1.09. Delta Air Lines, Inc. has a 52 week low of $44.59 and a 52 week high of $60.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.39 and a quick ratio of 0.33.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, April 12th. The transportation company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Delta Air Lines had a net margin of 8.37% and a return on equity of 26.19%. The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.89 billion. During the same period in the previous year, the business earned $0.77 EPS. Delta Air Lines’s revenue for the quarter was up 9.5% compared to the same quarter last year. analysts anticipate that Delta Air Lines, Inc. will post 5.93 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Friday, May 11th were given a dividend of $0.305 per share. The ex-dividend date was Thursday, May 10th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.22%. Delta Air Lines’s payout ratio is presently 24.75%.

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, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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

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