Delta Air Lines, Inc. (DAL) Shares Sold by CIBC Asset Management Inc
CIBC Asset Management Inc lessened its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 71,208 shares of the transportation company’s stock after selling 1,911 shares during the period. CIBC Asset Management Inc’s holdings in Delta Air Lines were worth $3,988,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baker Ellis Asset Management LLC acquired a new position in shares of Delta Air Lines during the fourth quarter valued at approximately $106,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Delta Air Lines during the second quarter valued at approximately $114,000. SeaCrest Wealth Management LLC acquired a new position in shares of Delta Air Lines during the fourth quarter valued at approximately $121,000. BB&T Investment Services Inc. acquired a new position in shares of Delta Air Lines during the second quarter valued at approximately $128,000. Finally, Advisory Services Network LLC increased its stake in shares of Delta Air Lines by 3.0% during the second quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 85.09% of the company’s stock.
In related news, President Glen W. Hauenstein sold 31,600 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $55.83, for a total value of $1,764,228.00. Following the completion of the transaction, the president now owns 204,018 shares of the company’s stock, valued at approximately $11,390,324.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul A. Jacobson sold 49,362 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $60.20, for a total transaction of $2,971,592.40. The disclosure for this sale can be found here. Insiders sold a total of 363,447 shares of company stock valued at $20,591,693 in the last ninety days. Company insiders own 0.37% of the company’s stock.
Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, January 11th. The transportation company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. Delta Air Lines had a net margin of 8.67% and a return on equity of 26.28%. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business posted $0.82 EPS. The company’s revenue was up 8.3% on a year-over-year basis. analysts forecast that Delta Air Lines, Inc. will post 6.46 earnings per share for the current fiscal year.
A number of research analysts recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $85.00 price objective (up previously from $75.00) on shares of Delta Air Lines in a research note on Wednesday, January 10th. Stephens reiterated a “buy” rating and set a $72.00 price objective on shares of Delta Air Lines in a research note on Wednesday, January 10th. Imperial Capital upgraded shares of Delta Air Lines from an “in-line” rating to an “outperform” rating and set a $63.00 price target on the stock in a research report on Thursday, October 12th. JPMorgan Chase & Co. lifted their price target on shares of Delta Air Lines from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Finally, Cowen lifted their price target on shares of Delta Air Lines from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Delta Air Lines currently has a consensus rating of “Buy” and an average target price of $65.53.
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About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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