Delta Air Lines, Inc. (NYSE:DAL) Short Interest Update

Delta Air Lines, Inc. (NYSE:DAL) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 27,180,000 shares, a drop of 10.3% from the June 15th total of 30,300,000 shares. Based on an average daily trading volume, of 61,420,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 4.3% of the shares of the company are sold short.

In related news, Director David S. Taylor purchased 3,000 shares of Delta Air Lines stock in a transaction on Monday, May 4th. The stock was purchased at an average cost of $21.95 per share, with a total value of $65,850.00. Following the acquisition, the director now directly owns 8,460 shares in the company, valued at $185,697. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeanne P. Jackson purchased 25,510 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was bought at an average price of $22.72 per share, for a total transaction of $579,587.20. Following the completion of the transaction, the director now directly owns 13,100 shares in the company, valued at $297,632. The disclosure for this purchase can be found here. Insiders own 0.63% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in Delta Air Lines in the fourth quarter valued at approximately $116,385,000. Cpwm LLC bought a new position in shares of Delta Air Lines in the 4th quarter worth $946,000. Edge Wealth Management LLC grew its stake in shares of Delta Air Lines by 86.6% during the first quarter. Edge Wealth Management LLC now owns 4,266 shares of the transportation company’s stock worth $124,000 after purchasing an additional 1,980 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Delta Air Lines in the fourth quarter valued at about $8,600,000. Finally, Atticus Wealth Management LLC lifted its stake in Delta Air Lines by 343.5% in the first quarter. Atticus Wealth Management LLC now owns 5,650 shares of the transportation company’s stock valued at $161,000 after buying an additional 4,376 shares during the period. 75.69% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on DAL. Raymond James lowered their price target on Delta Air Lines from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Zacks Investment Research upgraded Delta Air Lines from a “sell” rating to a “hold” rating and set a $31.00 target price for the company in a research note on Wednesday, June 24th. Goldman Sachs Group raised their target price on Delta Air Lines from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, June 29th. Deutsche Bank lowered their price target on shares of Delta Air Lines from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Finally, Citigroup raised their price objective on shares of Delta Air Lines from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.80.

DAL stock traded down $1.36 during trading on Thursday, hitting $25.65. The company had a trading volume of 31,114,859 shares, compared to its average volume of 39,687,711. The firm has a 50-day moving average price of $28.13 and a 200-day moving average price of $38.85. Delta Air Lines has a 12 month low of $17.51 and a 12 month high of $63.44. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 1.25. The stock has a market cap of $17.23 billion, a price-to-earnings ratio of 5.01 and a beta of 1.25.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Wednesday, April 22nd. The transportation company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.21. Delta Air Lines had a return on equity of 25.95% and a net margin of 7.76%. The business had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $9.33 billion. During the same quarter last year, the business earned $0.96 earnings per share. The firm’s quarterly revenue was down 18.0% compared to the same quarter last year. Equities analysts expect that Delta Air Lines will post -7.59 EPS for the current year.

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.

Further Reading: Current Ratio

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