Traders Sell Shares of Delta Air Lines, Inc. (NYSE:DAL) on Strength (NYSE:DAL)
Traders sold shares of Delta Air Lines, Inc. (NYSE:DAL) on strength during trading on Monday. $47.80 million flowed into the stock on the tick-up and $80.46 million flowed out of the stock on the tick-down, for a money net flow of $32.66 million out of the stock. Of all companies tracked, Delta Air Lines had the 0th highest net out-flow for the day. Delta Air Lines traded up $0.14 for the day and closed at $50.75
DAL has been the topic of several research analyst reports. 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 report on Tuesday, July 4th. Vetr upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $54.35 price target on the stock in a report on Monday, May 8th. Bank of America Corporation upped their price target on Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Citigroup Inc. upped their price target on Delta Air Lines from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 12th. Finally, ValuEngine upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Delta Air Lines currently has an average rating of “Buy” and a consensus target price of $60.16.
The company has a market capitalization of $36.63 billion, a PE ratio of 9.97 and a beta of 1.20. The company’s 50 day moving average is $52.75 and its 200-day moving average is $49.46.
Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 13th. The transportation company reported $1.64 EPS for the quarter, missing the Zacks’ consensus estimate of $1.66 by $0.02. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The company had revenue of $10.79 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the previous year, the firm earned $1.47 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. On average, analysts predict that Delta Air Lines, Inc. will post $5.12 earnings per share for the current year.
In related news, VP Craig M. Meynard sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $55.26, for a total transaction of $276,300.00. Following the sale, the vice president now owns 7,437 shares of the company’s stock, valued at $410,968.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Edward H. Bastian sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $48.55, for a total value of $1,213,750.00. Following the sale, the chief executive officer now directly owns 285,508 shares in the company, valued at approximately $13,861,413.40. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 394,000 shares of company stock valued at $31,520 and have sold 131,306 shares valued at $6,924,439. Insiders own 0.37% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position in Delta Air Lines by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,473 shares of the transportation company’s stock valued at $753,000 after buying an additional 947 shares in the last quarter. Regent Investment Management LLC boosted its position in Delta Air Lines by 13.9% in the first quarter. Regent Investment Management LLC now owns 16,362 shares of the transportation company’s stock valued at $752,000 after buying an additional 2,000 shares in the last quarter. Tompkins Financial Corp bought a new position in Delta Air Lines during the first quarter valued at about $107,000. Fox Run Management L.L.C. boosted its position in Delta Air Lines by 48.6% in the first quarter. Fox Run Management L.L.C. now owns 10,400 shares of the transportation company’s stock valued at $478,000 after buying an additional 3,400 shares in the last quarter. Finally, Skylands Capital LLC boosted its position in Delta Air Lines by 9.6% in the first quarter. Skylands Capital LLC now owns 179,550 shares of the transportation company’s stock valued at $8,252,000 after buying an additional 15,750 shares in the last quarter. 87.65% of the stock is currently owned by hedge funds and other institutional investors.
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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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