Delta Air Lines, Inc. (NYSE:DAL) Sees Significant Decline in Short Interest

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Delta Air Lines, Inc. (NYSE:DAL) was the target of a large drop in short interest in June. As of June 30th, there was short interest totalling 11,823,700 shares, a drop of 14.6% from the May 30th total of 13,845,100 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average trading volume of 5,030,000 shares, the days-to-cover ratio is presently 2.4 days.

Several research firms have commented on DAL. Stifel Nicolaus lifted their target price on shares of Rapid7 from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Wolfe Research set a $69.00 target price on shares of Delta Air Lines and gave the stock a “buy” rating in a research report on Friday. Imperial Capital dropped their target price on shares of Montage Resources from $9.00 to $6.00 and set an “inline” rating on the stock in a research report on Wednesday. Buckingham Research dropped their target price on shares of Fastenal from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Stephens reissued an “overweight” rating and set a $70.00 target price on shares of Delta Air Lines in a research report on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $67.24.

In other Delta Air Lines news, Director Michael P. Huerta sold 1,010 shares of Delta Air Lines stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $54.33, for a total transaction of $54,873.30. Following the transaction, the director now owns 5,670 shares of the company’s stock, valued at approximately $308,051.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Edward H. Bastian sold 30,000 shares of Delta Air Lines stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $57.50, for a total transaction of $1,725,000.00. Following the transaction, the chief executive officer now directly owns 354,191 shares in the company, valued at approximately $20,365,982.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,003 shares of company stock worth $3,709,180. 0.47% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of DAL. Boston Partners grew its stake in Delta Air Lines by 24.1% in the 1st quarter. Boston Partners now owns 13,730,881 shares of the transportation company’s stock valued at $709,200,000 after buying an additional 2,669,765 shares in the last quarter. FMR LLC grew its stake in Delta Air Lines by 30.9% in the 4th quarter. FMR LLC now owns 9,742,670 shares of the transportation company’s stock valued at $486,161,000 after buying an additional 2,298,101 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Delta Air Lines by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,801,924 shares of the transportation company’s stock valued at $389,356,000 after buying an additional 50,255 shares in the last quarter. Geode Capital Management LLC grew its stake in Delta Air Lines by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 7,757,127 shares of the transportation company’s stock valued at $386,658,000 after buying an additional 532,550 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in Delta Air Lines by 15.0% in the 1st quarter. Neuberger Berman Group LLC now owns 6,124,500 shares of the transportation company’s stock valued at $316,331,000 after buying an additional 798,959 shares in the last quarter. Institutional investors own 87.21% of the company’s stock.

Shares of DAL stock traded up $1.49 during trading hours on Friday, hitting $61.65. 10,039,866 shares of the company were exchanged, compared to its average volume of 5,471,970. The company’s fifty day moving average price is $56.03. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.34 and a quick ratio of 0.29. Delta Air Lines has a 52-week low of $45.08 and a 52-week high of $62.24. The firm has a market cap of $40.38 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 0.49 and a beta of 1.18.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.07. Delta Air Lines had a net margin of 9.85% and a return on equity of 31.68%. The company had revenue of $12.54 billion during the quarter, compared to analyst estimates of $12.49 billion. During the same quarter last year, the business posted $1.77 EPS. Delta Air Lines’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts forecast that Delta Air Lines will post 6.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th will be paid a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a dividend yield of 2.61%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.35. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.78%.

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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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