14 Best Affordable Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 84

Share Price as of March 22: $46.77

P/E Ratio as of March 22: 8.77

Delta Air Lines, Inc. (NYSE:DAL) is one of the biggest American airlines, flying passengers and cargo across the world. On March 5, the company announced a partnership with JetZero to develop a next-generation, fuel-efficient aircraft with a unique blended-wing-body design. This technology could make planes up to 50% more fuel efficient, supporting Delta’s goal of net-zero emissions by 2050. JetZero, backed by a US Air Force grant, aims to launch a full-scale demonstrator by 2027. This partnership is a significant step in Delta’s 2023 Sustainability Roadmap to revolutionize air travel. DAL is one of the best affordable stocks to add to an investment portfolio.

Delta Air Lines, Inc. (NYSE:DAL) beat revenue expectations with 5.7% growth in the December quarter. Demand picked up throughout the fourth quarter, fueled by solid operational performance and increased travel from both leisure and corporate customers. Premium and loyalty revenue made up 57% of total earnings, with American Express contributions growing 14% year-over-year. International travel also saw steady gains, especially on Transatlantic routes. Delta generated $3.4 billion in free cash flow for 2024 and improved its credit rating, with plans to top $4 billion in 2025 to pay down debt and strengthen its financial position. The company paid a quarterly dividend of $0.15 per share on March 20.

According to Insider Monkey’s fourth quarter database, 84 hedge funds were long Delta Air Lines, Inc. (NYSE:DAL), up from 57 funds in the last quarter. Harris Associates was the largest stakeholder of the company, with 9.8 million shares worth $594 million.