Investors Buy Delta Air Lines Inc. (DAL) on Weakness
Traders purchased shares of Delta Air Lines Inc. (NYSE:DAL) on weakness during trading on Wednesday. $70.09 million flowed into the stock on the tick-up and $57.48 million flowed out of the stock on the tick-down, for a money net flow of $12.61 million into the stock. Of all stocks tracked, Delta Air Lines had the 16th highest net in-flow for the day. Delta Air Lines traded down ($0.32) for the day and closed at $40.21
Several equities research analysts have recently commented on DAL shares. Credit Suisse Group AG restated an “outperform” rating on shares of Delta Air Lines in a report on Thursday, March 31st. Cowen and Company decreased their price objective on Delta Air Lines from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, July 6th. Sterne Agee CRT restated a “buy” rating on shares of Delta Air Lines in a report on Monday, May 16th. Raymond James Financial Inc. restated an “outperform” rating on shares of Delta Air Lines in a report on Wednesday, June 15th. Finally, Morgan Stanley restated an “overweight” rating and set a $59.00 price objective (down previously from $65.00) on shares of Delta Air Lines in a report on Thursday, April 28th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $59.56.
The company’s 50-day moving average price is $38.93 and its 200 day moving average price is $44.00. The stock has a market cap of $30.48 billion and a PE ratio of 6.55.
Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 14th. The company reported $1.47 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.05. During the same quarter in the previous year, the business earned $1.27 EPS. The firm earned $10.45 billion during the quarter, compared to analysts’ expectations of $10.51 billion. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts forecast that Delta Air Lines Inc. will post $5.89 earnings per share for the current fiscal year.
In related news, Chairman Richard H. Anderson sold 758,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $40.07, for a total transaction of $30,373,060.00. Following the completion of the transaction, the chairman now owns 743,827 shares of the company’s stock, valued at approximately $29,805,147.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Edward H. Bastian sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $44.11, for a total value of $4,411,000.00. Following the transaction, the chief executive officer now directly owns 382,302 shares of the company’s stock, valued at approximately $16,863,341.22. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently bought and sold shares of the stock. LS Investment Advisors LLC raised its position in Delta Air Lines by 64.9% in the fourth quarter. LS Investment Advisors LLC now owns 23,084 shares of the company’s stock worth $1,170,000 after buying an additional 9,083 shares during the period. Monetta Financial Services Inc. bought a new position in Delta Air Lines during the fourth quarter worth $1,217,000. Glacier Peak Capital LLC bought a new position in Delta Air Lines during the fourth quarter worth $1,521,000. Matarin Capital Management LLC bought a new position in Delta Air Lines during the fourth quarter worth $1,568,000. Finally, Spectrum Management Group Inc. raised its position in Delta Air Lines by 14.8% in the fourth quarter. Spectrum Management Group Inc. now owns 33,120 shares of the company’s stock worth $1,679,000 after buying an additional 4,280 shares during the period.
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s operates through segments, including Airline Segment and Refinery Segment. The Airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and other ancillary airline services.
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