Short Interest in Delta Air Lines, Inc. (NYSE:DAL) Grows By 5.0%

Posted by on Mar 18th, 2023

Delta Air Lines, Inc. (NYSE:DAL – Get Rating) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 21,770,000 shares, an increase of 5.0% from the February 13th total of 20,730,000 shares. Based on an average trading volume of 9,660,000 shares, the short-interest ratio is currently 2.3 days. Approximately 3.4% of the company’s shares are short sold.

Insider Transactions at Delta Air Lines

In related news, Director Francis S. Blake purchased 12,880 shares of the firm’s stock in a transaction on Wednesday, January 18th. The shares were bought at an average price of $38.58 per share, for a total transaction of $496,910.40. Following the acquisition, the director now directly owns 93,795 shares in the company, valued at $3,618,611.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Francis S. Blake bought 12,880 shares of the business’s stock in a transaction that occurred on Wednesday, January 18th. The shares were acquired at an average cost of $38.58 per share, with a total value of $496,910.40. Following the transaction, the director now owns 93,795 shares of the company’s stock, valued at approximately $3,618,611.10. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Joanne D. Smith sold 4,846 shares of the business’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $38.43, for a total value of $186,231.78. Following the sale, the executive vice president now directly owns 115,295 shares of the company’s stock, valued at approximately $4,430,786.85. The disclosure for this sale can be found here. Insiders have sold a total of 43,980 shares of company stock worth $1,696,902 in the last three months. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Delta Air Lines

Institutional investors have recently added to or reduced their stakes in the stock. Coppell Advisory Solutions Corp. acquired a new stake in Delta Air Lines in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC raised its holdings in Delta Air Lines by 153.8% in the third quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 623 shares in the last quarter. Ten Capital Wealth Advisors LLC acquired a new stake in shares of Delta Air Lines during the third quarter worth $29,000. Sittner & Nelson LLC raised its holdings in shares of Delta Air Lines by 200.0% during the fourth quarter. Sittner & Nelson LLC now owns 900 shares of the transportation company’s stock worth $30,000 after purchasing an additional 600 shares during the period. Finally, First PREMIER Bank raised its holdings in shares of Delta Air Lines by 151.7% during the third quarter. First PREMIER Bank now owns 1,095 shares of the transportation company’s stock worth $31,000 after purchasing an additional 660 shares during the period. 66.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI upgraded shares of Delta Air Lines from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, March 7th. Bank of America boosted their price objective on shares of Delta Air Lines from $40.00 to $43.00 in a research note on Tuesday, January 10th. Jefferies Financial Group boosted their price objective on shares of Delta Air Lines from $40.00 to $45.00 in a research note on Wednesday, January 11th. Barclays boosted their price objective on shares of Delta Air Lines from $44.00 to $48.00 in a research note on Friday, March 10th. Finally, StockNews.com assumed coverage on shares of Delta Air Lines in a research note on Thursday. They set a “hold” rating for the company. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $49.47.

Delta Air Lines Trading Down 2.2 %

DAL opened at $32.96 on Friday. The stock has a market capitalization of $21.14 billion, a PE ratio of 16.16 and a beta of 1.26. The firm’s fifty day moving average price is $38.15 and its 200 day moving average price is $34.58. The company has a debt-to-equity ratio of 3.14, a current ratio of 0.50 and a quick ratio of 0.45. Delta Air Lines has a 12-month low of $27.20 and a 12-month high of $46.27.

Delta Air Lines (NYSE:DAL – Get Rating) last posted its quarterly earnings results on Friday, January 13th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.17. The firm had revenue of $13.44 billion for the quarter, compared to analysts’ expectations of $13.03 billion. Delta Air Lines had a net margin of 2.61% and a return on equity of 45.69%. As a group, research analysts expect that Delta Air Lines will post 5.42 EPS for the current fiscal year.

About Delta Air Lines

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Delta Air Lines, Inc engages in the provision of scheduled air transportation for passengers and cargo. It operates through the Airline and Refinery segments. The Airline segment provides scheduled air transportation for passengers and cargo. The Refinery segment provides jet fuel to the airline segment.

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