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 0.2% during the most recent quarter end. The investment management company now holds a total of 546,569 shares of Delta Air Lines which is valued at $19,867,783 after selling 1,085 shares in Delta Air Lines , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Delta Air Lines makes up approximately 2.40% of Spears Abacus Advisors’s portfolio.

Other Hedge Funds, Including , Tower Research Capital (trc) boosted its stake in DAL in the latest quarter, The investment management firm added 6,872 additional shares and now holds a total of 11,325 shares of Delta Air Lines which is valued at $411,664. Delta Air Lines makes up approx 0.04% of Tower Research Capital (trc)’s portfolio.Ftb Advisors reduced its stake in DAL by selling 192 shares or 6.23% in the most recent quarter. The Hedge Fund company now holds 2,892 shares of DAL which is valued at $112,065. Delta Air Lines makes up approx 0.01% of Ftb Advisors’s portfolio.Jfs Wealth Advisors reduced its stake in DAL by selling 83 shares or 56.46% in the most recent quarter. The Hedge Fund company now holds 64 shares of DAL which is valued at $2,467. Capital One National Association sold out all of its stake in DAL during the most recent quarter. The investment firm sold 4,163 shares of DAL which is valued $167,394.

Delta Air Lines closed down -0.3 points or -0.81% at $36.77 with 75,79,561 shares getting traded on Friday. Post opening the session at $36.81, the shares hit an intraday low of $36.37 and an intraday high of $36.98 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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