Lido Advisors LLC Reduces Stake in Delta Air Lines, Inc. (NYSE:DAL)

Lido Advisors LLC cut its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 69.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,117 shares of the transportation company’s stock after selling 170,641 shares during the period. Lido Advisors LLC’s holdings in Delta Air Lines were worth $4,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DAL. New Wave Wealth Advisors LLC purchased a new position in Delta Air Lines during the 4th quarter valued at $27,000. Hemington Wealth Management increased its position in shares of Delta Air Lines by 48.1% during the fourth quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock valued at $28,000 after buying an additional 154 shares during the period. Roxbury Financial LLC bought a new position in Delta Air Lines in the fourth quarter worth about $29,000. Crews Bank & Trust purchased a new stake in Delta Air Lines in the fourth quarter worth about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in Delta Air Lines by 414.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 431 shares in the last quarter. Institutional investors own 69.93% of the company’s stock.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, SVP William C. Carroll sold 6,783 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.94, for a total value of $447,271.02. Following the transaction, the senior vice president now directly owns 10,016 shares in the company, valued at approximately $660,455.04. This trade represents a 40.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rahul D. Samant sold 38,023 shares of Delta Air Lines stock in a transaction on Tuesday, February 11th. The stock was 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. This represents a 41.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,776 shares of company stock worth $4,155,951 in the last three months. 0.96% of the stock is currently owned by company insiders.

Delta Air Lines Stock Performance

Shares of NYSE DAL opened at $42.08 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The firm’s 50-day moving average price is $46.41 and its 200-day moving average price is $56.93. Delta Air Lines, Inc. has a 52-week low of $34.74 and a 52-week high of $69.98. The company has a market cap of $27.48 billion, a PE ratio of 7.89, a PEG ratio of 0.75 and a beta of 1.23.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.38). The company had revenue of $12.98 billion for the quarter, compared to analysts’ expectations of $13.85 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. Delta Air Lines’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share. As a group, analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.43%. Delta Air Lines’s dividend payout ratio is currently 10.64%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DAL. Raymond James lowered their target price on Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 2nd. Barclays dropped their price objective on shares of Delta Air Lines from $80.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. TD Cowen raised their target price on shares of Delta Air Lines from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, April 10th. StockNews.com downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $46.00 price objective (down previously from $85.00) on shares of Delta Air Lines in a research note on Tuesday, April 1st. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.