Delta Air Lines (DAL) Misses on Q2 Earnings July 13, 2017

Gladys Abbott
July 13, 2017

Primecap Management Co. CA raised its position in shares of Delta Air Lines by 9.3% in the first quarter. Delta Air Lines's revenue was down 1.1% on a year-over-year basis.

A number of other institutional investors have also recently made changes to their positions in the company. TrimTabs Asset Management LLC boosted its stake in Delta Air Lines by 88.8% in the first quarter. Cim Investment Mangement Inc. now owns 12,273 shares of the transportation company's stock valued at $604,000 after buying an additional 151 shares during the period. Discovery Capital Management LLC CT purchased a new position in shares of Delta Air Lines during the fourth quarter worth approximately $125,828,000.

Delta said it earned $1.22 billion in its fiscal second quarter, down from $1.55 billion in the same quarter a year earlier. DAL share have rallied by 12.79% in percentage terms since the start of the year - and added 6.18% in the last month. Finally, Nordea Investment Management AB increased its position in shares of Delta Air Lines by 44.5% in the first quarter. Over the last 90 days, insiders acquired 425,665 shares of company stock valued at $283,540 and sold 55,606 shares valued at $2,753,289. Institutional investors own 86.05% of the company's stock. Principal Group stated it has 0.07% of its portfolio in Delta Air Lines, Inc. (NYSE:DAL) on Thursday, May 25 with "Buy" rating. The firm has a 50-day moving average price of $50.96 and a 200 day moving average price of $48.99. This was the first quarter in which the carrier recorded quarterly unit revenue growth since the fourth quarter of 2014. This was up from $10.45 billion previous year.

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Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, April 12th. (NYSE:DAL). Earnest Ltd Liability Company reported 0% stake. The company had revenue of $9.15 billion for the quarter, compared to analyst estimates of $9.14 billion. Delta Air Lines Inc Del now has $40.44B valuation. The firm's revenue was down 1.1% compared to the same quarter past year. The Atlanta, GA based Delta has reported higher-than-expected earnings in three of the last four quarters with an average beat of 3.01%. Imperial Capital also issued estimates for Delta Air Lines' FY2017 earnings at $5.15 EPS, FY2018 earnings at $5.65 EPS and FY2019 earnings at $2.85 EPS. (NYSE:DAL). Moreover, Tci Wealth Advsr has 0.02% invested in Delta Air Lines, Inc. (NYSE:DAL). Calamos Wealth Mgmt Lc owns 61,030 shares or 0.48% of their United States portfolio. If you are reading this report on another website, it was illegally copied and reposted in violation of U.S. & worldwide trademark and copyright laws. The original version of this article can be viewed at https://www.chaffeybreeze.com/2017/07/13/rafferty-asset-management-llc-acquires-new-position-in-delta-air-lines-inc-dal-updated-updated.html. (NYSE:DAL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC).

COPYRIGHT VIOLATION WARNING: "Coe Capital Management LLC Buys 155 Shares of Delta Air Lines, Inc". Evercore ISI upgraded shares of Delta Air Lines from an "in-line" rating to an "outperform" rating and set a $56.00 price objective for the company in a research note on Thursday, March 16th. Citigroup Inc. upped their price objective on shares of Delta Air Lines from $63.00 to $65.00 and gave the company a "buy" rating in a report on Friday, May 12th. Morgan Stanley maintained Delta Air Lines, Inc. Delta Air Lines, Inc.

In the transaction dated April 17, 2017, the great number of shares acquired came courtesy the Director; BLAKE FRANCIS S added a total of 5,665 shares at an average price of $44.12, amounting to approximately $249,940.

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