Delta Air Lines, Inc. (NYSE:DAL) CEO Edward H. Bastian Sells 27,664 Shares

Delta Air Lines, Inc. (NYSE:DALGet Rating) CEO Edward H. Bastian sold 27,664 shares of the stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $39.55, for a total transaction of $1,094,111.20. Following the transaction, the chief executive officer now owns 446,712 shares of the company’s stock, valued at approximately $17,667,459.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NYSE DAL traded up $1.38 during trading on Wednesday, reaching $38.60. 10,431,203 shares of the company’s stock traded hands, compared to its average volume of 15,153,063. The company has a debt-to-equity ratio of 8.17, a current ratio of 0.65 and a quick ratio of 0.60. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of 47.11 and a beta of 1.05. The company’s 50 day simple moving average is $39.88 and its two-hundred day simple moving average is $39.40. Delta Air Lines, Inc. has a 12-month low of $29.75 and a 12-month high of $48.54.

Delta Air Lines (NYSE:DALGet Rating) last posted its earnings results on Wednesday, April 13th. The transportation company reported ($1.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.05. The business had revenue of $9.35 billion for the quarter, compared to the consensus estimate of $8.99 billion. Delta Air Lines had a net margin of 1.47% and a negative return on equity of 41.80%. The company’s revenue for the quarter was up 125.3% on a year-over-year basis. During the same quarter last year, the firm posted ($3.55) EPS. Research analysts expect that Delta Air Lines, Inc. will post 2.64 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ancora Advisors LLC increased its position in Delta Air Lines by 67.4% during the 3rd quarter. Ancora Advisors LLC now owns 35,688 shares of the transportation company’s stock valued at $1,521,000 after purchasing an additional 14,365 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Delta Air Lines during the 4th quarter valued at about $7,325,000. Everence Capital Management Inc. boosted its holdings in shares of Delta Air Lines by 83.7% in the 4th quarter. Everence Capital Management Inc. now owns 20,960 shares of the transportation company’s stock valued at $819,000 after buying an additional 9,550 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Delta Air Lines by 47.1% in the 4th quarter. ProShare Advisors LLC now owns 140,741 shares of the transportation company’s stock valued at $5,501,000 after buying an additional 45,071 shares in the last quarter. Finally, Hartford Investment Management Co. boosted its holdings in shares of Delta Air Lines by 8.4% in the 4th quarter. Hartford Investment Management Co. now owns 64,970 shares of the transportation company’s stock valued at $2,539,000 after buying an additional 5,023 shares in the last quarter. 63.24% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on the stock. StockNews.com assumed coverage on shares of Delta Air Lines in a research report on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley raised their target price on shares of Delta Air Lines from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 14th. JPMorgan Chase & Co. raised their target price on shares of Delta Air Lines from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. Susquehanna Bancshares raised their target price on shares of Delta Air Lines from $45.00 to $47.00 in a report on Thursday, April 14th. Finally, Zacks Investment Research upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Wednesday, April 20th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $52.41.

About Delta Air Lines (Get Rating)

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, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.

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