Delta Air Lines, Inc. (DAL) Reports Record Net Income For Q2, But Shares Balk In Pre-Market Trading

Delta Air Lines, Inc. (NYSE:DAL) was among the five most popular investment choices of hedge funds in the transportation sector, and as mentioned, was the most popular airliner. According to our records, 116 hedge funds held positions in the airliner at the end of the first quarter with holdings of $7.15 billion collectively. That compares to 110 hedge funds with $7.53 billion in holdings three months earlier. Lansdowne Partners, led by Paul Ruddock and Steve Heinz, was the largest shareholder of the company in our database, with 24.76 million shares valued at $1.11 billion at the end of the first quarter. In addition to positive hedge fund sentiment, insiders at Delta Air Lines, Inc. (NYSE:DAL) are expecting growth in the company as well, with three of its directors indulging in share purchases including George Mattson, William H. Easter, and Francis Blake, who purchased 5,000 shares, 3,500 shares, and 5,000 shares respectively.

Despite the beats on both its top and bottom lines, shares of Delta are trading down by nearly 2.5% in pre-market trading this morning, which may be due to guidance of another decline in passenger unit revenue for the current fiscal quarter, of between 4.5% and 6.5% year-over-year. That metric fell by 4.6% in the second quarter. Nonetheless, Delta is anticipating earnings per share growth of around 30% year-over-year for the current quarter.

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