Riverhead Capital Management buys $64.4 Million stake in Delta Air Lines (DAL)

Delta Air Lines (DAL) : Riverhead Capital Management scooped up 527,312 additional shares in Delta Air Lines during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 1,548,151 shares of Delta Air Lines which is valued at $64.4 Million.Delta Air Lines makes up approximately 0.93% of Riverhead Capital Management’s portfolio.

Other Hedge Funds, Including , Brant Point Investment Management reduced its stake in DAL by selling 12,900 shares or 11.95% in the most recent quarter. The Hedge Fund company now holds 95,040 shares of DAL which is valued at $4 Million. Delta Air Lines makes up approx 0.82% of Brant Point Investment Management’s portfolio.Credit Agricole S A boosted its stake in DAL in the latest quarter, The investment management firm added 216,651 additional shares and now holds a total of 1,069,035 shares of Delta Air Lines which is valued at $44.5 Million. Delta Air Lines makes up approx 0.21% of Credit Agricole S A’s portfolio.Twin Capital Management Inc reduced its stake in DAL by selling 210 shares or 0.31% in the most recent quarter. The Hedge Fund company now holds 68,230 shares of DAL which is valued at $2.8 Million. Delta Air Lines makes up approx 0.22% of Twin Capital Management Inc’s portfolio. Financial Architects Inc added DAL to its portfolio by purchasing 75 company shares during the most recent quarter which is valued at $3,120.Nisa Investment Advisors L.l.c. boosted its stake in DAL in the latest quarter, The investment management firm added 7,900 additional shares and now holds a total of 223,580 shares of Delta Air Lines which is valued at $9.3 Million. Delta Air Lines makes up approx 0.13% of Nisa Investment Advisors L.l.c.’s portfolio.

Delta Air Lines closed down -0.13 points or -0.30% at $43.5 with 76,00,829 shares getting traded on Wednesday. Post opening the session at $43.68, the shares hit an intraday low of $43.38 and an intraday high of $44.11 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Delta Air Lines reported $1.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 14, 2016. Analyst had a consensus of $1.29. The company had revenue of $9251.00 million for the quarter, compared to analysts expectations of $9265.45 million. The company’s revenue was down -1.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on Delta Air Lines. Shares were Downgraded by Deutsche Bank on Apr 1, 2016 to ” Hold” and Lowered the Price Target to $ 55 from a previous price target of $68 .

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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