Short Interest in Delta Air Lines, Inc. (NYSE:DAL) Declines By 14.6%

Delta Air Lines, Inc. (NYSE:DAL) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 11,823,700 shares, a decline of 14.6% from the May 30th total of 13,845,100 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 5,030,000 shares, the short-interest ratio is presently 2.4 days.

DAL has been the subject of several research analyst reports. Morgan Stanley raised to an “overweight” rating and set a GBX 400 ($5.23) price objective for the company in a report on Friday. Citigroup lifted their price objective on Vistra Energy from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Credit Suisse Group lifted their price objective on Delta Air Lines from $37.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Stephens reaffirmed an “overweight” rating and issued a $70.00 price objective on shares of Delta Air Lines in a report on Wednesday, July 3rd. Finally, Buckingham Research cut their price objective on Fastenal from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $67.18.

In related news, Director Michael P. Huerta sold 1,010 shares of Delta Air Lines stock in a transaction on Friday, May 24th. The stock was sold at an average price of $54.33, for a total value of $54,873.30. Following the completion of the sale, the director now owns 5,670 shares of the company’s stock, valued at $308,051.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward H. Bastian sold 30,000 shares of Delta Air Lines stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $57.50, for a total value of $1,725,000.00. Following the completion of the sale, the chief executive officer now directly owns 354,191 shares of the company’s stock, valued at approximately $20,365,982.50. The disclosure for this sale can be found here. Insiders sold 65,003 shares of company stock valued at $3,709,180 in the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in DAL. Xact Kapitalforvaltning AB lifted its position in shares of Delta Air Lines by 94.6% in the second quarter. Xact Kapitalforvaltning AB now owns 100,590 shares of the transportation company’s stock valued at $5,708,000 after acquiring an additional 48,903 shares in the last quarter. Addison Capital Co purchased a new position in shares of Delta Air Lines in the second quarter valued at about $507,000. Rothschild Investment Corp IL purchased a new position in shares of Delta Air Lines in the second quarter valued at about $403,000. AMF Pensionsforsakring AB lifted its position in shares of Delta Air Lines by 3.8% in the second quarter. AMF Pensionsforsakring AB now owns 353,369 shares of the transportation company’s stock valued at $20,054,000 after acquiring an additional 13,065 shares in the last quarter. Finally, Harbour Capital Advisors LLC lifted its position in shares of Delta Air Lines by 3.3% in the second quarter. Harbour Capital Advisors LLC now owns 30,748 shares of the transportation company’s stock valued at $1,745,000 after acquiring an additional 990 shares in the last quarter. 87.21% of the stock is owned by institutional investors and hedge funds.

NYSE:DAL traded up $1.49 during mid-day trading on Friday, hitting $61.65. 9,952,075 shares of the company traded hands, compared to its average volume of 6,755,641. The company has a fifty day moving average of $56.03. Delta Air Lines has a one year low of $45.08 and a one year high of $62.24. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.29 and a current ratio of 0.34. The company has a market cap of $38.95 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.07. Delta Air Lines had a return on equity of 30.10% and a net margin of 9.09%. The business had revenue of $12.54 billion during the quarter, compared to analyst estimates of $12.49 billion. During the same quarter in the previous year, the company posted $1.77 earnings per share. Delta Air Lines’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that Delta Air Lines will post 6.93 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be issued a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a yield of 2.61%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.35. Delta Air Lines’s payout ratio is currently 24.78%.

About Delta Air Lines

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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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