5 Best Freight Stocks to Buy Now

4. Delta Air Lines, Inc. (NYSE:DAL)

Number of Hedge Fund Holders: 49

Delta Air Lines, Inc. (NYSE:DAL) is a leading global airline serving more than 200 million passengers on an annual basis across its global network of more than 275 destinations in over 50 countries. The company also provides cargo services through the use of cargo space on its regular flights in addition to chartered cargo flights operated mainly during the covid19 pandemic. The cargo business generated a revenue of $1.03 billion in 2021.

In October, Delta Air Lines, Inc. (NYSE:DAL) reported the financial results for the third quarter of 2022. Its revenue increased by 11% as compared to Q3 2019 to $14.0 billion, while it generated a net income of $695 million.

Following the earnings release, Cowen analyst Helane Becker upgraded the rating for Delta Air Lines, Inc. (NYSE:DAL) shares to ‘Outperform’ from ‘Market Perform’ with a price target of $54 for the shares.

According to the Insider Monkey data on 895 leading hedge funds, 49 hedge funds were long Delta Air Lines, Inc. (NYSE:DAL) shares as of Q2 2022, with the total shares held by hedge funds valued at $887 million. Ken Griffin’s Citadel Investment Group was the largest hedge fund shareholder on record.