Iridian Asset Managementct Lowers stake in Delta Air Lines (DAL)

Delta Air Lines (DAL) : Iridian Asset Managementct reduced its stake in Delta Air Lines by 11.19% during the most recent quarter end. The investment management company now holds a total of 10,320,830 shares of Delta Air Lines which is valued at $386,411,875 after selling 1,300,915 shares in Delta Air Lines , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Delta Air Lines makes up approximately 3.42% of Iridian Asset Managementct’s portfolio.

Other Hedge Funds, Including , Brown Advisory Inc boosted its stake in DAL in the latest quarter, The investment management firm added 4,173 additional shares and now holds a total of 183,108 shares of Delta Air Lines which is valued at $6,855,564. Delta Air Lines makes up approx 0.02% of Brown Advisory Inc’s portfolio.Compton Capital Management Inc Ri reduced its stake in DAL by selling 1,020 shares or 4.43% in the most recent quarter. The Hedge Fund company now holds 21,980 shares of DAL which is valued at $806,666. Delta Air Lines makes up approx 0.43% of Compton Capital Management Inc Ri’s portfolio.New Mexico Educational Retirement Board boosted its stake in DAL in the latest quarter, The investment management firm added 2,800 additional shares and now holds a total of 89,900 shares of Delta Air Lines which is valued at $3,279,552. Delta Air Lines makes up approx 0.14% of New Mexico Educational Retirement Board’s portfolio.California Public Employees Retirement System boosted its stake in DAL in the latest quarter, The investment management firm added 4,700 additional shares and now holds a total of 2,009,599 shares of Delta Air Lines which is valued at $73,310,172. Delta Air Lines makes up approx 0.11% of California Public Employees Retirement System’s portfolio.

Delta Air Lines opened for trading at $37.03 and hit $37.53 on the upside on Wednesday, eventually ending the session at $37.51, with a gain of 1.54% or 0.57 points. The heightened volatility saw the trading volume jump to 1,04,27,938 shares. Company has a market cap of $28,092 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. 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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