Should You Invest in Delta Air Lines (DAL) Now?

Miller Value Partners, an investment management company, released its “Opportunity Equity Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the Opportunity Equity Strategy returned -4.62% net of fees compared to -4.88% return for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Miller Value Partners discussed stocks like Delta Air Lines, Inc. (NYSE:DAL) in its Q3 2022 investor letter. Headquartered in Atlanta, Georgia, Delta Air Lines, Inc. (NYSE:DAL) is an air transportation company operating through airlines and refinery segments. On October 18, 2022, Delta Air Lines, Inc. (NYSE:DAL) stock closed at $32.17 per share. One-month return of Delta Air Lines, Inc. (NYSE:DAL) was 3.24% and its shares lost 20.17% of their value over the last 52 weeks. Delta Air Lines, Inc. (NYSE:DAL) has a market capitalization of $20.627 billion.

Here is what Miller Value Partners specifically said about Delta Air Lines, Inc. (NYSE:DAL) in its Q3 2022 investor letter:

“Delta Air Lines, Inc. (NYSE:DAL) ($29.42) is a high-quality airline (yes, there really is such a thing!).  It didn’t issue any equity in the pandemic. It focuses on delivering a superb customer experience and has brand loyalty (including a stable revenue stream from partner American Express, growing at 20%/ year). Maybe the best evidence: it’s managed to outperform the S&P 500 over the past decade despite a horrible pandemic ending point (+13.2% vs. 11.7%¹ ). It trades for 4x 2024 earnings! If it eventually trades at Southwest’s historical valuation, it implies this stock should double as well.”

Pixabay/Public Domain

Delta Air Lines, Inc. (NYSE:DAL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 49 hedge fund portfolios held Delta Air Lines, Inc. (NYSE:DAL) at the end of the second quarter which was 55 in the previous quarter.

We discussed Delta Air Lines, Inc. (NYSE:DAL) in another article and shared the best seasonal stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.