Stock Traders Buy High Volume of Call Options on Delta Air Lines (NYSE:DAL)

Delta Air Lines, Inc. (NYSE:DALGet Free Report) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 65,037 call options on the company. This is an increase of approximately 21% compared to the typical volume of 53,757 call options.

Insider Buying and Selling

In related news, EVP Joanne D. Smith sold 4,846 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the completion of the sale, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Willie Cw Chiang bought 10,000 shares of Delta Air Lines stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average cost of $49.50 per share, with a total value of $495,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $495,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joanne D. Smith sold 4,846 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the sale, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at $5,879,618.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,919 shares of company stock valued at $8,834,653. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Delta Air Lines

Several large investors have recently added to or reduced their stakes in DAL. Wellington Management Group LLP grew its position in Delta Air Lines by 220.2% during the fourth quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock valued at $346,008,000 after purchasing an additional 5,914,301 shares in the last quarter. Capital International Investors grew its holdings in shares of Delta Air Lines by 8.8% during the 4th quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock valued at $842,283,000 after acquiring an additional 1,689,053 shares in the last quarter. Norges Bank acquired a new position in shares of Delta Air Lines in the fourth quarter worth $65,056,000. Jennison Associates LLC raised its holdings in shares of Delta Air Lines by 145.2% during the fourth quarter. Jennison Associates LLC now owns 2,618,627 shares of the transportation company’s stock worth $105,347,000 after acquiring an additional 1,550,770 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in Delta Air Lines by 27.0% during the fourth quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock valued at $260,198,000 after purchasing an additional 1,376,221 shares during the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DAL has been the subject of several research analyst reports. Susquehanna boosted their target price on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research report on Tuesday, April 9th. Morgan Stanley reissued an “overweight” rating and issued a $85.00 price objective on shares of Delta Air Lines in a report on Thursday, April 11th. Bank of America increased their target price on Delta Air Lines from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Citigroup boosted their price target on Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $59.85.

Read Our Latest Stock Report on DAL

Delta Air Lines Price Performance

Shares of Delta Air Lines stock traded down $0.38 during trading on Wednesday, hitting $49.90. The stock had a trading volume of 10,638,710 shares, compared to its average volume of 10,037,517. The business has a fifty day moving average of $49.39 and a two-hundred day moving average of $43.25. The firm has a market cap of $32.20 billion, a P/E ratio of 6.41, a PEG ratio of 0.76 and a beta of 1.38. Delta Air Lines has a fifty-two week low of $30.60 and a fifty-two week high of $53.86. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.41 and a quick ratio of 0.36.

Delta Air Lines (NYSE:DALGet Free Report) last released its earnings results on Thursday, April 11th. The transportation company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. The business had revenue of $13.75 billion during the quarter, compared to analyst estimates of $12.51 billion. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 earnings per share. On average, sell-side analysts expect that Delta Air Lines will post 6.66 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Monday, May 13th. Delta Air Lines’s dividend payout ratio (DPR) is currently 5.14%.

About Delta Air Lines

(Get Free Report)

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, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.

Read More

Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.