Delta Air Lines Target of Unusually Large Options Trading (DAL)

Delta Air Lines, Inc. (NYSE:DAL) was the recipient of some unusual options trading activity on Friday. Investors bought 24,677 call options on the stock. This represents an increase of 214% compared to the typical daily volume of 7,859 call options.

In other news, President Glen W. Hauenstein sold 67,000 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $55.15, for a total transaction of $3,695,050.00. Following the sale, the president now directly owns 239,418 shares in the company, valued at approximately $13,203,902.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joanne D. Smith sold 3,700 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total transaction of $199,800.00. Following the sale, the executive vice president now owns 77,223 shares in the company, valued at $4,170,042. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 133,000 shares of company stock worth $282,800 and have sold 75,700 shares worth $4,171,150. 0.37% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Roundview Capital LLC raised its position in shares of Delta Air Lines by 0.3% in the second quarter. Roundview Capital LLC now owns 5,115 shares of the transportation company’s stock valued at $275,000 after buying an additional 15 shares during the last quarter. Patten Group Inc. raised its position in shares of Delta Air Lines by 0.3% in the first quarter. Patten Group Inc. now owns 9,307 shares of the transportation company’s stock valued at $420,000 after buying an additional 30 shares during the last quarter. Traynor Capital Management Inc. raised its position in shares of Delta Air Lines by 1.2% in the second quarter. Traynor Capital Management Inc. now owns 4,911 shares of the transportation company’s stock valued at $246,000 after buying an additional 58 shares during the last quarter. MUFG Securities EMEA plc raised its position in shares of Delta Air Lines by 1.2% in the second quarter. MUFG Securities EMEA plc now owns 5,307 shares of the transportation company’s stock valued at $285,000 after buying an additional 65 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in shares of Delta Air Lines by 3.0% in the second quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock valued at $137,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 86.26% of the company’s stock.

Delta Air Lines (DAL) opened at 52.70 on Wednesday. The stock has a market capitalization of $38.37 billion, a PE ratio of 10.45 and a beta of 1.25. The firm has a 50 day moving average of $48.35 and a 200-day moving average of $49.40. Delta Air Lines has a 52 week low of $37.91 and a 52 week high of $55.75.

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). The business had revenue of $10.79 billion during the quarter, compared to analyst estimates of $10.81 billion. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. Delta Air Lines’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $1.47 earnings per share. On average, equities analysts predict that Delta Air Lines will post $5.12 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd were given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 21st. Delta Air Lines’s dividend payout ratio is 24.25%.

Several research firms recently weighed in on DAL. BidaskClub raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Atlantic Securities began coverage on shares of Delta Air Lines in a research note on Tuesday, June 20th. They set an “overweight” rating and a $68.00 target price for the company. Barclays PLC began coverage on shares of Delta Air Lines in a research note on Thursday, August 10th. They set an “overweight” rating and a $70.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Delta Air Lines in a research note on Tuesday, September 12th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $60.00 target price on shares of Delta Air Lines in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $61.91.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://stocknewstimes.com/2017/10/11/delta-air-lines-target-of-unusually-large-options-trading-dal.html.

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.

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

Latest News

Leave a Reply