Short Interest in Delta Air Lines, Inc. (NYSE:DAL) Declines By 8.0%

Delta Air Lines, Inc. (NYSE:DAL) was the recipient of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 32,390,000 shares, a drop of 8.0% from the November 15th total of 35,190,000 shares. Based on an average daily volume of 8,500,000 shares, the days-to-cover ratio is presently 3.8 days.

Insider Activity at Delta Air Lines

In related news, EVP Joanne D. Smith sold 3,431 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were 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. This trade represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward H. Bastian sold 68,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $56.33, for a total value of $3,830,440.00. Following the completion of the sale, the chief executive officer now owns 439,819 shares of the company’s stock, valued at $24,775,004.27. This trade represents a 13.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,240 shares of company stock worth $8,044,893 in the last ninety days. 0.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Delta Air Lines by 7.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 57,094 shares of the transportation company’s stock worth $2,709,000 after purchasing an additional 4,029 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in Delta Air Lines by 4.8% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 41,626 shares of the transportation company’s stock valued at $1,975,000 after acquiring an additional 1,917 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Delta Air Lines by 106.9% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 23,384 shares of the transportation company’s stock worth $1,110,000 after acquiring an additional 12,083 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Delta Air Lines during the 2nd quarter worth approximately $617,000. Finally, United Bank grew its holdings in shares of Delta Air Lines by 8.9% during the 2nd quarter. United Bank now owns 4,852 shares of the transportation company’s stock worth $230,000 after purchasing an additional 396 shares in the last quarter. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Down 0.4 %

Shares of DAL stock traded down $0.25 on Tuesday, hitting $60.80. The company’s stock had a trading volume of 5,536,864 shares, compared to its average volume of 9,189,850. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. The stock has a market capitalization of $39.23 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 1.21 and a beta of 1.35. Delta Air Lines has a fifty-two week low of $36.34 and a fifty-two week high of $67.50. The firm’s fifty day moving average price is $59.76 and its 200-day moving average price is $50.38.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 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 analyst estimates of $14.65 billion. During the same period in the prior year, the company posted $2.03 EPS. The business’s revenue was up 1.2% on a year-over-year basis. Research analysts anticipate that Delta Air Lines will post 6.08 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s dividend payout ratio is currently 8.33%.

Analysts Set New Price Targets

A number of brokerages have weighed in on DAL. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Bank of America raised their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 11th. UBS Group reaffirmed a “buy” rating and issued a $88.00 price target on shares of Delta Air Lines in a report on Tuesday, November 26th. JPMorgan Chase & Co. raised their price objective on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Citigroup upped their target price on Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $75.83.

Delta Air Lines Company Profile

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.