Glazer Capital Lowers stake in Virgin America Inc (VA)

Virgin America Inc (VA) : Glazer Capital reduced its stake in Virgin America Inc by 62.56% during the most recent quarter end. The investment management company now holds a total of 242,781 shares of Virgin America Inc which is valued at $13,595,736 after selling 405,720 shares in Virgin America Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Virgin America Inc makes up approximately 4.82% of Glazer Capital’s portfolio.

Other Hedge Funds, Including , Nokota Management Lp added VA to its portfolio by purchasing 325,000 company shares during the most recent quarter which is valued at $18,200,000. Virgin America Inc makes up approx 1.61% of Nokota Management Lp’s portfolio.Citadel Advisors reduced its stake in VA by selling 21,182 shares or 76.75% in the most recent quarter. The Hedge Fund company now holds 6,416 shares of VA which is valued at $360,258.Teachers Advisors reduced its stake in VA by selling 399 shares or 1.29% in the most recent quarter. The Hedge Fund company now holds 30,461 shares of VA which is valued at $1,692,109. First Trust Advisors Lp sold out all of its stake in VA during the most recent quarter. The investment firm sold 36,944 shares of VA which is valued $1,998,670.

Virgin America Inc opened for trading at $55.6 and hit $58.7 on the upside on Monday, eventually ending the session at $56.55, with a gain of 1.98% or 1.1 points. The heightened volatility saw the trading volume jump to 24,72,452 shares. Company has a market cap of $2,530 M.

On the company’s financial health, Virgin America Inc reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.36. The company had revenue of $364.00 million for the quarter, compared to analysts expectations of $361.40 million. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on Virgin America Inc. Virgin America Inc was Upgraded by JP Morgan to ” Neutral” on Oct 11, 2016. Imperial Capital Initiated Virgin America Inc on Sep 23, 2016 to “In-line”, Price Target of the shares are set at $57.

Virgin America Inc. is an airline that provides scheduled air travel in the United States and Mexico. The Company operates from Los Angeles and San Francisco with a presence at Dallas Love Field (DAL) to other destinations in North America. It provides service to approximately 21 airports in the United States and Mexico with a fleet of 53 narrow-body aircraft. It offers three levels of service: First Class Main Cabin Select and Main Cabin. First Class level of service includes eight-seat cabin with an inflight teammate to provide service 165 degree reclining leather seat with massage functions and 55 inches of pitch between rows among others. Main Cabin Select includes 38 inches of pitch for leg room individual Red inflight entertainment system at every seatback and one free checked bag among others. Main Cabin includes 32 or 33 inches of pitch individual Red inflight entertainment system at every seatback and complimentary live television among others.

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