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

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

Shares of DAL traded down $1.36 during midday 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 stock has a market cap of $17.23 billion, a price-to-earnings ratio of 5.01 and a beta of 1.25. The company’s 50 day moving average price is $28.13 and its 200 day moving average price is $38.85. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 1.25. Delta Air Lines has a 52 week low of $17.51 and a 52 week high of $63.44.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Wednesday, April 22nd. The transportation company reported ($0.51) EPS for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $9.33 billion. During the same period last year, the firm earned $0.96 earnings per share. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year. Equities analysts anticipate that Delta Air Lines will post -7.59 EPS for the current fiscal year.

Several research firms have recently issued reports on DAL. UBS Group cut their price target on Delta Air Lines from $62.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Argus downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Wednesday, March 11th. JPMorgan Chase & Co. reduced their price objective on Delta Air Lines from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Citigroup lifted their price objective on Delta Air Lines from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Finally, Zacks Investment Research raised shares of 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. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Delta Air Lines presently has an average rating of “Hold” and an average target price of $51.80.

In related news, EVP Rahul D. Samant sold 7,475 shares of Delta Air Lines stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $26.72, for a total transaction of $199,732.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David S. Taylor bought 3,000 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were purchased at an average price of $21.95 per share, for a total transaction of $65,850.00. Following the completion of the transaction, the director now owns 8,460 shares of the company’s stock, valued at approximately $185,697. The disclosure for this purchase can be found here. Corporate insiders own 0.63% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. ERTS Wealth Advisors LLC acquired a new position in Delta Air Lines in the fourth quarter worth $30,000. Lloyd Advisory Services LLC. acquired a new position in shares of Delta Air Lines in the 4th quarter valued at about $38,000. Procyon Private Wealth Partners LLC acquired a new position in shares of Delta Air Lines in the 4th quarter valued at about $42,000. Total Clarity Wealth Management Inc. bought a new stake in shares of Delta Air Lines during the 4th quarter valued at about $58,000. Finally, Endurance Wealth Management Inc. acquired a new stake in Delta Air Lines during the first quarter worth about $29,000. Institutional investors and hedge funds own 75.69% of the company’s stock.

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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