Kornitzer Capital Management Inc. KS Has $535,000 Position in Delta Air Lines, Inc. (NYSE:DAL)

Kornitzer Capital Management Inc. KS held its stake in Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,950 shares of the transportation company’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS’s holdings in Delta Air Lines were worth $535,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Delta Air Lines by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,473 shares of the transportation company’s stock worth $753,000 after buying an additional 947 shares during the last quarter. Regent Investment Management LLC boosted its position in shares of Delta Air Lines by 13.9% in the first quarter. Regent Investment Management LLC now owns 16,362 shares of the transportation company’s stock worth $752,000 after buying an additional 2,000 shares during the last quarter. Tompkins Financial Corp acquired a new position in shares of Delta Air Lines during the first quarter worth approximately $107,000. Fox Run Management L.L.C. boosted its position in shares of Delta Air Lines by 48.6% in the first quarter. Fox Run Management L.L.C. now owns 10,400 shares of the transportation company’s stock worth $478,000 after buying an additional 3,400 shares during the last quarter. Finally, Skylands Capital LLC boosted its position in shares of Delta Air Lines by 9.6% in the first quarter. Skylands Capital LLC now owns 179,550 shares of the transportation company’s stock worth $8,252,000 after buying an additional 15,750 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of Delta Air Lines, Inc. (NYSE DAL) remained flat at $47.53 during midday trading on Friday. The company’s stock had a trading volume of 8,395,102 shares. The stock has a market capitalization of $34.60 billion, a PE ratio of 9.42 and a beta of 1.20. Delta Air Lines, Inc. has a 52 week low of $35.90 and a 52 week high of $55.75. The firm’s 50 day moving average price is $51.80 and its 200 day moving average price is $49.44. Delta Air Lines also was the target of some unusual options trading on Wednesday. Investors acquired 20,043 call options on the stock. This is an increase of approximately 109% compared to the average daily volume of 9,579 call options.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.02. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The firm had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same period in the prior year, the business earned $1.47 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd will be paid a dividend of $0.305 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.22 annualized dividend and a yield of 2.57%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s dividend payout ratio (DPR) is currently 16.10%.

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A number of brokerages have recently commented on DAL. Cowen and Company lifted their target price on shares of Delta Air Lines from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, July 13th. Evercore ISI reaffirmed an “outperform” rating and issued a $66.00 target price on shares of Delta Air Lines in a report on Friday, July 14th. Imperial Capital lifted their target price on shares of Delta Air Lines from $52.00 to $54.00 and gave the company an “in-line” rating in a report on Tuesday, July 11th. ValuEngine cut shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Delta Air Lines in a report on Thursday, July 13th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $60.56.

In related news, COO W Gilbert West sold 26,131 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $50.47, for a total value of $1,318,831.57. Following the completion of the transaction, the chief operating officer now owns 89,232 shares in the company, valued at approximately $4,503,539.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward H. Bastian sold 25,000 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $48.55, for a total value of $1,213,750.00. Following the completion of the sale, the chief executive officer now directly owns 285,508 shares of the company’s stock, valued at $13,861,413.40. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 389,000 shares of company stock valued at $31,120 and have sold 126,831 shares valued at $6,703,732. Company insiders own 0.37% of the company’s stock.

Delta Air Lines Company Profile

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.

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

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