New Wave Wealth Advisors LLC Purchases New Shares in Delta Air Lines, Inc. (NYSE:DAL)

New Wave Wealth Advisors LLC acquired a new position in Delta Air Lines, Inc. (NYSE:DAL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 448 shares of the transportation company’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DAL. Future Financial Wealth Managment LLC purchased a new position in shares of Delta Air Lines during the third quarter valued at about $25,000. Crews Bank & Trust bought a new stake in Delta Air Lines during the 4th quarter valued at approximately $30,000. Modus Advisors LLC purchased a new position in shares of Delta Air Lines during the 4th quarter worth approximately $33,000. Harbor Investment Advisory LLC raised its position in shares of Delta Air Lines by 217.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 555 shares of the transportation company’s stock worth $34,000 after acquiring an additional 380 shares in the last quarter. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Delta Air Lines in the 4th quarter valued at approximately $36,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DAL shares. JPMorgan Chase & Co. upped their price target on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. TD Cowen upped their target price on shares of Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Jefferies Financial Group lifted 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 report on Monday, November 11th. Citigroup upped their price objective on shares of Delta Air Lines from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Bank of America lifted their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $78.22.

Delta Air Lines Stock Performance

DAL stock opened at $67.24 on Friday. The stock’s 50 day simple moving average is $63.51 and its 200 day simple moving average is $53.80. 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, Inc. has a 12-month low of $37.29 and a 12-month high of $69.98. The stock has a market capitalization of $43.39 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.09. Delta Air Lines had a return on equity of 30.43% and a net margin of 5.61%. The firm had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.20 billion. During the same period in the prior year, the company posted $1.28 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts forecast that Delta Air Lines, Inc. will post 7.67 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Allison C. Ausband sold 7,510 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total value of $470,276.20. Following the sale, the executive vice president now owns 58,897 shares in the company, valued at approximately $3,688,130.14. This trade represents a 11.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP William C. Carroll sold 8,400 shares of Delta Air Lines stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $66.02, for a total transaction of $554,568.00. Following the completion of the sale, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,304,291.12. This trade represents a 29.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,150 shares of company stock valued at $8,735,936 in the last 90 days. 0.96% of the stock is currently owned by insiders.

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 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.