Largest Insider Buys: Top 5 Stocks

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

Number of Hedge Fund Investors: 53

Delta Air Lines, Inc. (NYSE:DAL) is one of the stocks that saw recent insider purchases this month. On May 1, 2024, Willie Chiang, a director at Delta Air Lines, Inc. (NYSE:DAL), snapped up 10,000 shares of Delta Air Lines, Inc. (NYSE:DAL) at $49.50 per share. The total worth of this transaction was around $494,955. Over the past five days Delta stock has gained about 3.4%.

Out of the 933 hedge funds in Insider Monkey’s database, 53 hedge funds had stakes in Delta Air Lines, Inc. (NYSE:DAL) as of the end of 2023.

Oakmark Fund stated the following regarding Delta Air Lines, Inc. (NYSE:DAL) in its first quarter 2024 investor letter:

“Delta Air Lines, Inc. (NYSE:DAL) is a leading global airline. Of the big three U.S.-based airlines (Delta, United and American), we see Delta as the most competitively advantaged. We believe the company’s years of industry-leading operational performance and investments in the customer experience have established Delta as the premium brand in the industry. We also think its geographically optimal hubs, high local market share, robust loyalty program and unique corporate culture all support healthy returns on capital. Delta currently trades at 6x our estimate of normalized earnings per share. We believe this is an attractive valuation for a competitively advantaged and growing business in an out-of-favor industry.”