Beach Point Capital Management Lp Lowers stake in Delta Air Lines (DAL)

Delta Air Lines (DAL) : Beach Point Capital Management Lp reduced its stake in Delta Air Lines by 5.93% during the most recent quarter end. The investment management company now holds a total of 260,074 shares of Delta Air Lines which is valued at $9,453,690 after selling 16,382 shares in Delta Air Lines , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Delta Air Lines makes up approximately 4.74% of Beach Point Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital Management Holdings. reduced its stake in DAL by selling 193,205 shares or 43.42% in the most recent quarter. The Hedge Fund company now holds 251,773 shares of DAL which is valued at $9,151,949. Delta Air Lines makes up approx 0.07% of Cornerstone Capital Management Holdings.’s portfolio.Acrospire Investment Management reduced its stake in DAL by selling 3,300 shares or 58.93% in the most recent quarter. The Hedge Fund company now holds 2,300 shares of DAL which is valued at $86,112. Delta Air Lines makes up approx 0.06% of Acrospire Investment Management’s portfolio.Alphamark Advisors reduced its stake in DAL by selling 1,462 shares or 2.12% in the most recent quarter. The Hedge Fund company now holds 67,631 shares of DAL which is valued at $2,547,660. Delta Air Lines makes up approx 1.48% of Alphamark Advisors’s portfolio. Cornerstone Financial Partners sold out all of its stake in DAL during the most recent quarter. The investment firm sold 32,785 shares of DAL which is valued $1,195,997.

Delta Air Lines opened for trading at $36.27 and hit $36.6 on the upside on Monday, eventually ending the session at $36.55, with a gain of 1.27% or 0.46 points. The heightened volatility saw the trading volume jump to 56,74,560 shares. Company has a market cap of $27,373 M.

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. Imperial Capital Initiated Delta Air Lines on Aug 24, 2016 to “In-line”, Price Target of the shares are set at $41.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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *