Seminole Management Lowers stake in Delta Air Lines (DAL)

Delta Air Lines (DAL) : Seminole Management reduced its stake in Delta Air Lines by 39.23% during the most recent quarter end. The investment management company now holds a total of 1,034,326 shares of Delta Air Lines which is valued at $39,862,924 after selling 667,690 shares in Delta Air Lines , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Delta Air Lines makes up approximately 3.93% of Seminole Management’s portfolio.

Other Hedge Funds, Including , Deltec Asset Management boosted its stake in DAL in the latest quarter, The investment management firm added 66,260 additional shares and now holds a total of 174,792 shares of Delta Air Lines which is valued at $6,736,484. Delta Air Lines makes up approx 1.62% of Deltec Asset Management’s portfolio.Shikiar Asset Management Inc boosted its stake in DAL in the latest quarter, The investment management firm added 4,100 additional shares and now holds a total of 165,455 shares of Delta Air Lines which is valued at $6,446,127. Delta Air Lines makes up approx 2.75% of Shikiar Asset Management Inc’s portfolio. Addison Capital Co sold out all of its stake in DAL during the most recent quarter. The investment firm sold 30,973 shares of DAL which is valued $1,206,708. Rockefeller Financial Services Inc sold out all of its stake in DAL during the most recent quarter. The investment firm sold 121 shares of DAL which is valued $4,714.Central Bank Trust Co reduced its stake in DAL by selling 523 shares or 50.0% in the most recent quarter. The Hedge Fund company now holds 523 shares of DAL which is valued at $20,690. Delta Air Lines makes up approx 0.01% of Central Bank Trust Co’s portfolio.

Delta Air Lines closed down -0.61 points or -1.55% at $38.75 with 1,04,68,182 shares getting traded on Friday. Post opening the session at $39.37, the shares hit an intraday low of $38.741 and an intraday high of $39.9 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

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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