On April 17, 2023 at 15:23:38 ET an unusually large $378.12K block of Put contracts in Delta Air Lines (DAL) was bought, with a strike price of $33.00 / share, expiring in 60 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 5.19 sigmas above the mean, placing it in the 99.95th percentile of all recent large trades made in DAL options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1588 funds or institutions reporting positions in Delta Air Lines. This is an increase of 47 owner(s) or 3.05% in the last quarter. Average portfolio weight of all funds dedicated to DAL is 0.23%, an increase of 2.58%. Total shares owned by institutions increased in the last three months by 1.93% to 500,923K shares. The put/call ratio of DAL is 0.88, indicating a bullish outlook.

Analyst Price Forecast Suggests 56.31% Upside

As of April 6, 2023, the average one-year price target for Delta Air Lines is $52.78. The forecasts range from a low of $40.40 to a high of $85.05. The average price target represents an increase of 56.31% from its latest reported closing price of $33.77.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Delta Air Lines is $51,579MM, a decrease of 4.47%. The projected annual non-GAAP EPS is $4.85.

What are Other Shareholders Doing?

Innovator ETFs Trust – Innovator IBD Breakout Opportunities ETF holds 9K shares representing 0.00% ownership of the company.

SUNAMERICA SERIES TRUST – SA Large Cap Value Index Portfolio Class 1 holds 13K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 11K shares, representing an increase of 8.82%. The firm increased its portfolio allocation in DAL by 18.51% over the last quarter.

Farmers & Merchants Investments holds 155K shares representing 0.02% ownership of the company. No change in the last quarter.

Intrust Bank Na holds 18K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 17K shares, representing an increase of 3.81%. The firm decreased its portfolio allocation in DAL by 99.89% over the last quarter.

RBCGX – Reynolds Blue Chip Growth Fund holds 6K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 1K shares, representing an increase of 76.27%. The firm increased its portfolio allocation in DAL by 405.57% over the last quarter.

Delta Air Lines Background Information
(This description is provided by the company.)

Delta Air Lines is the U.S. global airline leader in safety, innovation, reliability and customer experience. Powered by its employees around the world, Delta has for a decade led the airline industry in operational excellence while maintaining its reputation for award-winning customer service.

See all Delta Air Lines regulatory filings.

This article originally appeared on Fintel

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