Short Interest in Delta Air Lines, Inc. (DAL) Declines By 43.7%

Delta Air Lines, Inc. (NYSE:DAL) was the target of a large drop in short interest during the month of September. As of September 29th, there was short interest totalling 10,018,571 shares, a drop of 43.7% from the September 15th total of 17,787,165 shares. Based on an average trading volume of 6,650,200 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.4% of the company’s shares are sold short.

DAL has been the topic of a number of recent analyst reports. Deutsche Bank AG cut their price objective on Delta Air Lines from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, September 6th. Zacks Investment Research upgraded Delta Air Lines from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective on the stock in a research report on Tuesday, July 4th. BidaskClub lowered Delta Air Lines from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Bank of America Corporation lifted their price objective on Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Delta Air Lines in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Delta Air Lines has a consensus rating of “Buy” and an average target price of $63.84.

Delta Air Lines (NYSE:DAL) opened at 52.86 on Thursday. The stock has a market cap of $38.48 billion, a PE ratio of 10.48 and a beta of 1.24. The stock has a 50 day moving average price of $49.51 and a 200 day moving average price of $49.68. Delta Air Lines has a 1-year low of $40.05 and a 1-year high of $55.75.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.53 by $0.04. The firm had revenue of $11.06 billion during the quarter, compared to analyst estimates of $11.03 billion. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.70 EPS. On average, analysts predict that Delta Air Lines will post $5.12 EPS for the current fiscal year.

In other news, EVP Joanne D. Smith sold 33,863 shares of Delta Air Lines stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $53.61, for a total value of $1,815,395.43. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director George N. Mattson acquired 6,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was acquired at an average price of $45.44 per share, for a total transaction of $272,640.00. Following the completion of the transaction, the director now owns 61,510 shares in the company, valued at approximately $2,795,014.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 75,000 shares of company stock worth $278,160 and have sold 200,001 shares worth $10,630,333. 0.37% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DAL. FNY Managed Accounts LLC purchased a new position in shares of Delta Air Lines during the 1st quarter valued at about $100,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Delta Air Lines during the 2nd quarter valued at about $114,000. BB&T Investment Services Inc. acquired a new stake in shares of Delta Air Lines during the 2nd quarter valued at about $128,000. Bessemer Group Inc. grew its position in shares of Delta Air Lines by 104.3% during the 2nd quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 1,298 shares during the period. Finally, Advisory Services Network LLC grew its position in shares of Delta Air Lines by 3.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge

DAL has been the topic of a number of recent analyst reports. Deutsche Bank AG cut their price objective on Delta Air Lines from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, September 6th. Zacks Investment Research upgraded Delta Air Lines from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective on the stock in a research report on Tuesday, July 4th. BidaskClub lowered Delta Air Lines from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Bank of America Corporation lifted their price objective on Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Delta Air Lines in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Delta Air Lines has a consensus rating of “Buy” and an average target price of $63.84.

Delta Air Lines (NYSE:DAL) opened at 52.86 on Thursday. The stock has a market cap of $38.48 billion, a PE ratio of 10.48 and a beta of 1.24. The stock has a 50 day moving average price of $49.51 and a 200 day moving average price of $49.68. Delta Air Lines has a 1-year low of $40.05 and a 1-year high of $55.75.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.53 by $0.04. The firm had revenue of $11.06 billion during the quarter, compared to analyst estimates of $11.03 billion. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.70 EPS. On average, analysts predict that Delta Air Lines will post $5.12 EPS for the current fiscal year.

In other news, EVP Joanne D. Smith sold 33,863 shares of Delta Air Lines stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $53.61, for a total value of $1,815,395.43. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director George N. Mattson acquired 6,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was acquired at an average price of $45.44 per share, for a total transaction of $272,640.00. Following the completion of the transaction, the director now owns 61,510 shares in the company, valued at approximately $2,795,014.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 75,000 shares of company stock worth $278,160 and have sold 200,001 shares worth $10,630,333. 0.37% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DAL. FNY Managed Accounts LLC purchased a new position in shares of Delta Air Lines during the 1st quarter valued at about $100,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Delta Air Lines during the 2nd quarter valued at about $114,000. BB&T Investment Services Inc. acquired a new stake in shares of Delta Air Lines during the 2nd quarter valued at about $128,000. Bessemer Group Inc. grew its position in shares of Delta Air Lines by 104.3% during the 2nd quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 1,298 shares during the period. Finally, Advisory Services Network LLC grew its position in shares of Delta Air Lines by 3.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 86.22% of the company’s stock.

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Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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