Columbus Circle Investors Lowers stake in Delta Air Lines (DAL)

Delta Air Lines (DAL) : Columbus Circle Investors reduced its stake in Delta Air Lines by 12.07% during the most recent quarter end. The investment management company now holds a total of 2,554,507 shares of Delta Air Lines which is valued at $93,188,415 after selling 350,524 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 0.89% of Columbus Circle Investors’s portfolio.

Other Hedge Funds, Including , Lee Danner Bass Inc boosted its stake in DAL in the latest quarter, The investment management firm added 4,212 additional shares and now holds a total of 69,138 shares of Delta Air Lines which is valued at $2,522,154. Delta Air Lines makes up approx 0.31% of Lee Danner Bass Inc’s portfolio. Diversified Trust Co sold out all of its stake in DAL during the most recent quarter. The investment firm sold 25,415 shares of DAL which is valued $979,494.Taylor Asset Management Inc boosted its stake in DAL in the latest quarter, The investment management firm added 18,200 additional shares and now holds a total of 594,700 shares of Delta Air Lines which is valued at $22,919,738. Delta Air Lines makes up approx 6.37% of Taylor Asset Management Inc’s portfolio.New Century Investment Management Inc reduced its stake in DAL by selling 8,593 shares or 10.85% in the most recent quarter. The Hedge Fund company now holds 70,600 shares of DAL which is valued at $2,750,576. Delta Air Lines makes up approx 1.41% of New Century Investment Management Inc’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in DAL in the latest quarter, The investment management firm added 10,179 additional shares and now holds a total of 199,727 shares of Delta Air Lines which is valued at $7,463,798. Delta Air Lines makes up approx 0.16% of Exxonmobil Investment Management Inc Tx’s portfolio.

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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