Masters Capital Management Lowers stake in Delta Air Lines (DAL)

Delta Air Lines (DAL) : Masters Capital Management reduced its stake in Delta Air Lines by 50.0% during the most recent quarter end. The investment management company now holds a total of 1,000,000 shares of Delta Air Lines which is valued at $47,470,000 after selling 1,000,000 shares in Delta Air Lines , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Delta Air Lines makes up approximately 8.09% of Masters Capital Management’s portfolio.

Other Hedge Funds, Including , Cannell Peter B Co Inc boosted its stake in DAL in the latest quarter, The investment management firm added 538,378 additional shares and now holds a total of 1,742,418 shares of Delta Air Lines which is valued at $82,712,582. Delta Air Lines makes up approx 2.99% of Cannell Peter B Co Inc’s portfolio.Pacer Advisors reduced its stake in DAL by selling 98 shares or 0.61% in the most recent quarter. The Hedge Fund company now holds 15,856 shares of DAL which is valued at $728,583. Delta Air Lines makes up approx 0.11% of Pacer Advisors’s portfolio.Commonwealth Equity Services Inc reduced its stake in DAL by selling 1,732 shares or 6.05% in the most recent quarter. The Hedge Fund company now holds 26,891 shares of DAL which is valued at $1,108,178. Delta Air Lines makes up approx 0.01% of Commonwealth Equity Services Inc’s portfolio.

Delta Air Lines opened for trading at $48.8 and hit $48.98 on the upside on Monday, eventually ending the session at $48.9, with a gain of 0.80% or 0.39 points. The heightened volatility saw the trading volume jump to 82,50,898 shares. Company has a market cap of $36,009 M.

On the company’s financial health, Delta Air Lines reported $1.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Oct 13, 2016. Analyst had a consensus of $1.65. The company had revenue of $10483.00 million for the quarter, compared to analysts expectations of $10504.47 million. The company’s revenue was down -5.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.74 EPS.

Many Wall Street Analysts have commented on Delta Air Lines. Delta Air Lines was Initiated by Citigroup to “Buy” on Nov 18, 2016. Company shares were Reiterated by Imperial Capital on Oct 14, 2016 to “In-line”, Firm has raised the Price Target to $ 44 from a previous price target of $41 .Bernstein Initiated Delta Air Lines on Oct 11, 2016 to “Mkt Perform”, Price Target of the shares are set at $43.

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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