Delta Air Lines Target of Unusually High Options Trading (NYSE:DAL)

Delta Air Lines, Inc. (NYSE:DAL) saw some unusual options trading on Wednesday. Stock investors acquired 83,514 call options on the stock. This represents an increase of 53% compared to the typical volume of 54,630 call options.

Delta Air Lines Stock Up 2.0 %

NYSE:DAL traded up $1.26 during mid-day trading on Thursday, hitting $65.72. 1,371,913 shares of the company’s stock were exchanged, compared to its average volume of 9,368,917. Delta Air Lines has a one year low of $35.28 and a one year high of $66.25. The business has a fifty day moving average price of $52.17 and a 200 day moving average price of $48.51. The company has a market cap of $42.41 billion, a PE ratio of 8.95, a P/E/G ratio of 1.22 and a beta of 1.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The company had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. During the same quarter in the previous year, the firm posted $2.03 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts predict that Delta Air Lines will post 6.07 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a $0.15 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 0.91%. Delta Air Lines’s dividend payout ratio is presently 8.33%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DAL. Barclays raised their target price on Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, October 11th. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. upped their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Bank of America increased their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Susquehanna increased their price target on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $67.73.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.46, for a total value of $173,128.26. Following the completion of the sale, the executive vice president now owns 108,990 shares of the company’s stock, valued at $5,499,635.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edward H. Bastian sold 68,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $56.33, for a total value of $3,830,440.00. Following the completion of the transaction, the chief executive officer now directly owns 439,819 shares in the company, valued at approximately $24,775,004.27. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 140,240 shares of company stock worth $8,044,893. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Delta Air Lines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pzena Investment Management LLC bought a new position in shares of Delta Air Lines during the third quarter valued at $281,206,000. Castle Hook Partners LP purchased a new stake in shares of Delta Air Lines during the 3rd quarter valued at about $189,296,000. Jupiter Asset Management Ltd. bought a new stake in shares of Delta Air Lines in the second quarter worth approximately $60,217,000. Dimensional Fund Advisors LP lifted its position in Delta Air Lines by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock valued at $471,330,000 after purchasing an additional 1,105,674 shares during the period. Finally, Sanders Capital LLC lifted its position in Delta Air Lines by 2.8% during the third quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company’s stock valued at $1,414,074,000 after purchasing an additional 749,099 shares during the period. 69.93% of the stock is owned by institutional investors.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.