Delta Air Lines, Inc. (NYSE:DAL) Sees Large Decrease in Short Interest

Delta Air Lines, Inc. (NYSE:DAL) was the target of a significant drop in short interest in 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 trading volume, of 8,500,000 shares, the days-to-cover ratio is currently 3.8 days.

Delta Air Lines Stock Down 0.4 %

Shares of NYSE:DAL opened at $60.80 on Wednesday. The stock has a market cap of $39.23 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.21 and a beta of 1.35. The business’s 50 day moving average is $59.97 and its 200 day moving average is $50.45. Delta Air Lines has a 12-month low of $36.34 and a 12-month high of $67.50. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05.

Delta Air Lines (NYSE:DAL) last posted 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). The firm had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. Delta Air Lines’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.03 earnings per share. On average, sell-side analysts forecast that Delta Air Lines will post 6.08 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

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

Insider Activity at Delta Air Lines

In other news, EVP Allison C. Ausband sold 7,510 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total value of $470,276.20. Following the transaction, the executive vice president now owns 58,897 shares of the company’s stock, valued at approximately $3,688,130.14. This represents a 11.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joanne D. Smith sold 3,431 shares of the 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 transaction, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. The trade was a 3.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 140,240 shares of company stock valued at $8,044,893. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Delta Air Lines

A number of institutional investors and hedge funds have recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new position in Delta Air Lines during the third quarter worth about $25,000. Kimelman & Baird LLC purchased a new position in shares of Delta Air Lines in the second quarter valued at $31,000. Ashton Thomas Securities LLC bought a new stake in shares of Delta Air Lines during the 3rd quarter valued at $31,000. Strategic Financial Concepts LLC purchased a new stake in Delta Air Lines during the 2nd quarter worth about $36,000. Finally, Unique Wealth Strategies LLC bought a new position in Delta Air Lines in the 2nd quarter worth about $40,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on DAL shares. Citigroup boosted their price target on Delta Air Lines from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. TD Cowen upped their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. raised their target price 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. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average 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.