Insider Selling: Richard Anderson Sells 400,000 Shares of Delta Air Lines Stock (DAL)
Delta Air Lines (NYSE:DAL) CEO Richard Anderson sold 400,000 shares of the stock on the open market in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $25.63, for a total value of $10,252,000.00. Following the sale, the chief executive officer now directly owns 1,177,442 shares in the company, valued at approximately $30,177,838. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
DAL has been the subject of a number of recent research reports. Analysts at Deutsche Bank raised their price target on shares of Delta Air Lines from $31.00 to $33.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Delta Air Lines from $28.00 to $31.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Delta Air Lines in a research note to investors on Thursday, October 17th. They now have a $26.00 price target on the stock. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Delta Air Lines presently has a consensus rating of “Buy” and a consensus price target of $27.07.
Delta Air Lines (NYSE:DAL) traded up 0.47% on Wednesday, hitting $25.61. 12,626,860 shares of the company’s stock traded hands. Delta Air Lines has a one year low of $8.42 and a one year high of $23.13. The stock has a 50-day moving average of $20.62 and a 200-day moving average of $18.22. The company has a market cap of $21.769 billion and a P/E ratio of 12.49. Delta Air Lines also saw unusually large options trading activity on Tuesday. Stock traders purchased 22,487 put options on the company. This represents an increase of 168% compared to the average volume of 8,391 put options.
Delta Air Lines (NYSE:DAL) last released its earnings data on Tuesday, October 22nd. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.66 by $0.75. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.47 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that Delta Air Lines will post $3.01 EPS for the current fiscal year.
Delta Air Lines, Inc (NYSE:DAL) provides scheduled air transportation for passengers and cargo throughout the United States and around the world.
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