Range Financial Group LLC Enters Delta Air Lines, Inc. with $363,000 Investment

Range Financial Group LLC has acquired a new investment in Delta Air Lines, Inc. (NYSE:DAL) during the fourth quarter, as revealed in their most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,997 shares of the airline's stock, which is valued at approximately $363,000.

Additionally, several other institutional investors have adjusted their stakes in Delta Air Lines recently. Future Financial Wealth Management LLC established a new position in the airline's shares during the third quarter for around $25,000. Modus Advisors LLC also bought new shares of Delta Air Lines in the fourth quarter, valued at near $33,000. Furthermore, Versant Capital Management Inc significantly increased its holdings in Delta Air Lines by 829.2% in the fourth quarter, bringing their total to 604 shares worth approximately $37,000 after acquiring an additional 539 shares. Ashton Thomas Securities LLC also entered into a new position in the airline during the third quarter, spending about $31,000. Kimelman & Baird LLC made a similar move in the second quarter, investing around $31,000. Presently, 69.93% of Delta Air Lines' stock is held by hedge funds and other institutional players.

Stock Performance Overview

On Wednesday, Delta Air Lines' stock opened at $61.13. Over the past year, the airline's shares have seen a low of $36.34 and a high of $67.50. The company's 50-day moving average price stands at $61.95, with a 200-day moving average of $51.59. Currently, Delta Air Lines has a market capitalization of $39.45 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 1.21, and a beta of 1.35. Financially, the firm has a quick ratio of 0.34, a current ratio of 0.39, and a debt-to-equity ratio of 1.05.

Delta Air Lines, Inc. recently disclosed its quarterly earnings are from October 10th, where they reported $1.50 earnings per share, falling short of analysts' expectations of $1.52 by $0.02. The company generated revenue of $15.68 billion during the quarter, surpassing analyst projections of $14.65 billion. Delta's return on equity was 29.93%, with a net margin of 7.71%. When comparing to last year's figures, the revenue for the quarter increased by 1.2%. The company had reported $2.03 earnings per share in the same period the previous year. Analysts expect Delta Air Lines, Inc. to achieve an EPS of 6.08 for the current year.

Insider Trading Activity

In related news, Senior Vice President William C. Carroll sold 21,530 shares of Delta Air Lines stock on November 8th. The shares were sold at an average price of $60.62, totaling approximately $1,305,148.60. Following this transaction, Carroll holds 19,756 shares, valued at about $1,197,608.72, reflecting a 52.15% decrease in ownership. The transaction has been reported to the SEC.
Moreover, Executive Vice President Steven M. Sear sold 10,279 shares on November 1st at an average price of $58.72, resulting in a transaction total of $603,582.88. After this sale, Sear still directly owns 78,459 shares in the company, worth approximately $4,607,112.48, and this trade represents an 11.58% reduction in his stake. In total, insiders sold 140,240 shares valued at $8,044,893 over the last quarter, and currently, insiders hold about 0.96% of the stock.

Analyst Ratings and Forecasts

Recent assessments by equity analysts have been generally positive regarding Delta Air Lines. BNP Paribas has upgraded the stock to a "strong-buy" rating as of September 19th. On October 8th, Sanford C. Bernstein raised their target price on shares from $62.00 to $65.00, while giving the company an "outperform" rating. Similarly, Citigroup increased their target from $65.00 to $76.00, assigning a "buy" rating as of November 26th. UBS Group also maintained a "buy" rating and established a price objective of $88.00 for Delta Air Lines during the same period. Additionally, Jefferies Financial Group raised their price target from $58.00 to $72.00, reiterating a "buy" rating on November 11th. Overall, one analyst holds a hold rating, thirteen analysts have given a buy rating, and one rates it as a strong buy. MarketBeat.com indicates the consensus rating for the stock is "Buy" with an average target price of $77.06.

About Delta Air Lines

Delta Air Lines, Inc. provides scheduled air transportation services for passengers and cargo both in the United States and internationally. The company's operations can be divided into two segments: Airline and Refinery. Domestically, it focuses on core hubs in cities like Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, and coastal hubs in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle. Internationally, Delta has a presence in key markets including Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.investment, Delta, financial, stocks