Delta Air Lines, Inc. (NYSE: DAL) Executive Vice President and President of International, Alain Bellemare, has sold a total of 24,073 shares of the company’s common stock, netting over $1.17 million. The transactions occurred on April 23, with the weighted average price per share being $48.859. Following the sale, Bellemare’s direct holdings in Delta Air Lines stood at 141,451 shares.
Investors often monitor insider transactions as they provide insights into how executives perceive the company’s valuation and future prospects. The timing and volume of such sales can influence market perceptions and stock performance. The recent transaction by Bellemare comes amidst the broader context of airline industry performance and investor sentiment. Delta Air Lines, like other carriers, has been navigating the challenges and opportunities as the travel industry recovers from the impacts of the pandemic.
Delta Air Lines has been a notable performer in the Passenger Airlines industry, demonstrated by a strong return over the last three months, with a price total return of 29.21%. This performance is part of a larger trend, as the company has seen a significant price uptick of 54.11% over the last six months. These metrics underscore the company’s robust recovery trajectory as the travel industry continues to bounce back.
From a valuation standpoint, Delta Air Lines is trading at a compelling earnings multiple, with a P/E ratio of 6.12 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 7.13. This positions the company attractively for investors looking for value in the airline sector. Additionally, the company’s shareholder yield is high, which could be a sign of management’s confidence in Delta’s financial health and future prospects.
9 analysts have revised their earnings upwards for the upcoming period, indicating a positive outlook on the company’s performance. Moreover, Delta has been profitable over the last twelve months, with a basic EPS from continuing operations at 7.84 USD.
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