Redwood Capital Management buys $36,350,000 stake in Delta Air Lines (DAL)

Delta Air Lines (DAL) : Redwood Capital Management scooped up 50,000 additional shares in Delta Air Lines during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,000,000 shares of Delta Air Lines which is valued at $36,350,000.Delta Air Lines makes up approximately 5.81% of Redwood Capital Management’s portfolio.

Other Hedge Funds, Including , Quinn Opportunity Partners sold out all of its stake in DAL during the most recent quarter. The investment firm sold 46,500 shares of DAL which is valued $1,690,275.Mcf Advisors reduced its stake in DAL by selling 396 shares or 66.55% in the most recent quarter. The Hedge Fund company now holds 199 shares of DAL which is valued at $7,234.Fort Washington Investment Advisors Inc Oh reduced its stake in DAL by selling 2,242 shares or 4.8% in the most recent quarter. The Hedge Fund company now holds 44,501 shares of DAL which is valued at $1,617,611. Delta Air Lines makes up approx 0.03% of Fort Washington Investment Advisors Inc Oh’s portfolio.Advantus Capital Management Inc reduced its stake in DAL by selling 8 shares or 0.01% in the most recent quarter. The Hedge Fund company now holds 75,077 shares of DAL which is valued at $2,729,049. Delta Air Lines makes up approx 0.08% of Advantus Capital Management Inc’s portfolio.Mayo Investment Advisers reduced its stake in DAL by selling 3,250 shares or 1.19% in the most recent quarter. The Hedge Fund company now holds 270,700 shares of DAL which is valued at $10,197,269. Delta Air Lines makes up approx 1.94% of Mayo Investment Advisers’s portfolio.

Delta Air Lines opened for trading at $37 and hit $37.15 on the upside on Thursday, eventually ending the session at $36.82, with a gain of 0.19% or 0.07 points. The heightened volatility saw the trading volume jump to 71,27,369 shares. Company has a market cap of $27,575 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.

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