Delta Air Lines, Inc. (NYSE:DAL) Short Interest Up 22.0% in May

Delta Air Lines, Inc. (NYSE:DALGet Rating) was the target of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 20,220,000 shares, an increase of 22.0% from the May 15th total of 16,580,000 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average trading volume of 14,790,000 shares, the days-to-cover ratio is currently 1.4 days.

In other news, EVP Steven M. Sear sold 12,780 shares of Delta Air Lines stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $41.65, for a total value of $532,287.00. Following the sale, the executive vice president now directly owns 90,373 shares of the company’s stock, valued at $3,764,035.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joanne D. Smith sold 9,024 shares of Delta Air Lines stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $44.14, for a total value of $398,319.36. Following the completion of the sale, the executive vice president now directly owns 120,857 shares in the company, valued at $5,334,627.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,270 shares of company stock worth $3,035,835. Insiders own 0.63% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC raised its stake in Delta Air Lines by 27.0% in the first quarter. Neuberger Berman Group LLC now owns 11,402,177 shares of the transportation company’s stock worth $451,155,000 after buying an additional 2,423,615 shares in the last quarter. Norges Bank acquired a new position in shares of Delta Air Lines during the fourth quarter worth $66,699,000. Dimensional Fund Advisors LP increased its position in shares of Delta Air Lines by 78.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,284,588 shares of the transportation company’s stock worth $129,968,000 after purchasing an additional 1,442,743 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Delta Air Lines by 97.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,631,380 shares of the transportation company’s stock worth $102,834,000 after purchasing an additional 1,296,842 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Delta Air Lines by 1.9% during the first quarter. Vanguard Group Inc. now owns 68,234,306 shares of the transportation company’s stock worth $2,700,032,000 after purchasing an additional 1,267,578 shares in the last quarter. Hedge funds and other institutional investors own 63.24% of the company’s stock.

Shares of NYSE DAL traded up $0.33 during trading hours on Friday, reaching $29.91. The stock had a trading volume of 1,497,066 shares, compared to its average volume of 13,140,996. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 8.17. The firm has a market cap of $19.17 billion, a price-to-earnings ratio of 37.44 and a beta of 1.05. The business’s fifty day moving average price is $39.71 and its two-hundred day moving average price is $39.01. Delta Air Lines has a 52-week low of $29.21 and a 52-week high of $46.27.

Delta Air Lines (NYSE:DALGet Rating) last announced its quarterly earnings results on Wednesday, April 13th. The transportation company reported ($1.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.05. The firm had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.99 billion. Delta Air Lines had a negative return on equity of 41.80% and a net margin of 1.47%. Delta Air Lines’s quarterly revenue was up 125.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($3.55) earnings per share. Equities research analysts anticipate that Delta Air Lines will post 3 earnings per share for the current fiscal year.

Several brokerages have weighed in on DAL. Susquehanna Bancshares boosted their price objective on Delta Air Lines from $45.00 to $47.00 in a research note on Thursday, April 14th. The Goldman Sachs Group boosted their price objective on Delta Air Lines from $44.00 to $45.00 in a research note on Wednesday, June 1st. Morgan Stanley boosted their price objective on Delta Air Lines from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, April 14th. UBS Group raised Delta Air Lines from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $53.00 in a research note on Monday, April 18th. Finally, Susquehanna boosted their price objective on Delta Air Lines from $45.00 to $47.00 in a research note on Thursday, April 14th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $52.47.

Delta Air Lines Company Profile (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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