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

Delta Air Lines, Inc. (NYSE:DAL) saw some unusual options trading activity on Thursday. Traders bought 178,849 put options on the company. This is an increase of 267% compared to the typical daily volume of 48,779 put options.

Delta Air Lines Stock Performance

NYSE:DAL opened at $46.60 on Friday. The company has a market capitalization of $30.12 billion, a P/E ratio of 8.74, a P/E/G ratio of 0.75 and a beta of 1.34. The business has a fifty day simple moving average of $62.34 and a two-hundred day simple moving average of $57.84. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32. Delta Air Lines has a 1 year low of $37.29 and a 1 year high of $69.98.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The firm had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.20 billion. During the same quarter last year, the company earned $1.28 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. On average, analysts expect that Delta Air Lines will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, February 27th. Delta Air Lines’s payout ratio is presently 11.26%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays decreased their target price on Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. TD Cowen raised their price objective on shares of Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, January 13th. StockNews.com upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $83.00 price objective on shares of Delta Air Lines in a research note on Friday, November 15th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Delta Air Lines has an average rating of “Buy” and an average target price of $76.60.

Insider Activity

In related news, EVP Rahul D. Samant sold 38,023 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the completion of the sale, the executive vice president now owns 52,789 shares of the company’s stock, valued at $3,425,478.21. This trade represents a 41.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward H. Bastian sold 91,710 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total value of $6,405,943.50. Following the transaction, the chief executive officer now owns 439,819 shares in the company, valued at $30,721,357.15. The trade was a 17.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,886 shares of company stock valued at $11,116,463. 0.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Delta Air Lines

Several hedge funds and other institutional investors have recently modified their holdings of DAL. New Wave Wealth Advisors LLC purchased a new position in Delta Air Lines during the fourth quarter valued at approximately $27,000. Roxbury Financial LLC bought a new position in Delta Air Lines in the 4th quarter valued at $29,000. Hemington Wealth Management grew its position in shares of Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 154 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of Delta Air Lines during the 4th quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Delta Air Lines by 414.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company’s stock worth $32,000 after purchasing an additional 431 shares during the period. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Company Profile

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.