Spears Abacus Advisors Lowers stake in Delta Air Lines (DAL)

Delta Air Lines (DAL) : Spears Abacus Advisors reduced its stake in Delta Air Lines by 0.75% during the most recent quarter end. The investment management company now holds a total of 547,654 shares of Delta Air Lines which is valued at $22.8 Million after selling 4,160 shares in Delta Air Lines , the firm said in a disclosure report filed with the SEC on May 13, 2016.Delta Air Lines makes up approximately 2.85% of Spears Abacus Advisors’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in DAL in the latest quarter, The investment management firm added 1,143,310 additional shares and now holds a total of 44,468,723 shares of Delta Air Lines which is valued at $1,849.9 Million. Delta Air Lines makes up approx 0.12% of Vanguard Group Inc’s portfolio. Fdo Partners sold out all of its stake in DAL during the most recent quarter. The investment firm sold 15,807 shares of DAL which is valued $657,571.First Heartland Consultants reduced its stake in DAL by selling 33 shares or 0.22% in the most recent quarter. The Hedge Fund company now holds 14,720 shares of DAL which is valued at $612,352. Delta Air Lines makes up approx 0.23% of First Heartland Consultants’s portfolio.Parkside Financial Bank Trust reduced its stake in DAL by selling 207 shares or 29.28% in the most recent quarter. The Hedge Fund company now holds 500 shares of DAL which is valued at $21,020. Delta Air Lines makes up approx 0.01% of Parkside Financial Bank Trust’s portfolio.American Century Companies Inc boosted its stake in DAL in the latest quarter, The investment management firm added 86,791 additional shares and now holds a total of 1,959,514 shares of Delta Air Lines which is valued at $82.4 Million. Delta Air Lines makes up approx 0.10% of American Century Companies Inc’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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