Concourse Capital Management Lowers stake in Delta Air Lines (DAL)

Delta Air Lines (DAL) : Concourse Capital Management reduced its stake in Delta Air Lines by 43.71% during the most recent quarter end. The investment management company now holds a total of 58,812 shares of Delta Air Lines which is valued at $2,145,462 after selling 45,670 shares in Delta Air Lines , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Delta Air Lines makes up approximately 1.31% of Concourse Capital Management’s portfolio.

Other Hedge Funds, Including , Royal London Asset Management Ltd reduced its stake in DAL by selling 477 shares or 0.67% in the most recent quarter. The Hedge Fund company now holds 70,236 shares of DAL which is valued at $2,562,209. Delta Air Lines makes up approx 0.04% of Royal London Asset Management Ltd’s portfolio.First Dallas Securities boosted its stake in DAL in the latest quarter, The investment management firm added 3,051 additional shares and now holds a total of 11,204 shares of Delta Air Lines which is valued at $431,802. Delta Air Lines makes up approx 0.32% of First Dallas Securities’s portfolio.New York State Teachers Retirement System reduced its stake in DAL by selling 43,350 shares or 2.77% in the most recent quarter. The Hedge Fund company now holds 1,520,230 shares of DAL which is valued at $59,228,161. Delta Air Lines makes up approx 0.15% of New York State Teachers Retirement System’s portfolio.Jnba Financial Advisors boosted its stake in DAL in the latest quarter, The investment management firm added 89 additional shares and now holds a total of 1,203 shares of Delta Air Lines which is valued at $46,869. Delta Air Lines makes up approx 0.01% of Jnba Financial Advisors’s portfolio. Seabridge Investment Advisors added DAL to its portfolio by purchasing 230 company shares during the most recent quarter which is valued at $8,961.

Delta Air Lines closed down -0.23 points or -0.61% at $37.44 with 1,00,29,115 shares getting traded on Monday. Post opening the session at $37.46, the shares hit an intraday low of $37.36 and an intraday high of $38.24 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Delta Air Lines reported $1.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 14, 2016. Analyst had a consensus of $1.42. The company had revenue of $10447.00 million for the quarter, compared to analysts expectations of $10479.70 million. The company’s revenue was down -2.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.27 EPS.

Investors should note that on Jul 29, 2016, Delta Air Lines announced a cash dividend of $0.2025. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Sep 2, 2016.

Many Wall Street Analysts have commented on Delta Air Lines. Shares were Reiterated by Cowen on Jul 6, 2016 to “Outperform” and Lowered the Price Target to $ 55 from a previous price target of $60 .

Delta Air Lines Inc. (Delta) provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s route network is centered on a system of hub and international gateway airports that it operates in Amsterdam Atlanta Detroit Los Angeles Minneapolis-St. Paul New York-LaGuardia New York-JFK Paris-Charles de Gaulle Salt Lake City Seattle and Tokyo-Narita. The Company’s segments include its Airline segment and Refinery segment. The Company’s Airline segment provides scheduled air transportation for passengers and cargo and other ancillary airline services including maintenance and repair services for third-parties. Its Refinery segment provides jet fuel to the airline segment from its own production and through jet fuel obtained through agreements with third-parties.

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