Hedge Funds Regret Selling These Soaring Stocks, Part 2

#3 Delta Air Lines, Inc. (NYSE:DAL)

Investors with Long Positions (as of September 30): 109

Aggregate Value of Investors’ Holdings (as of September 30): $7.32 Billion

Although the total number of hedge funds with exposure to Delta Air Lines, Inc. (NYSE:DAL) was reduced by five during the third quarter, the aggregate value of these holdings rose by about $320 million, mostly on account of a 12.76% rise in the company’s stock price during this period. The stock has surged by another 15% in the following three months. Hedgies losing on this surge include Dan Loeb’s Third Point and Bart Baum’s Ionic Capital Management as they liquidated their entire Delta Air holdings between July and September. On the other hand, Lansdowne Partners is the largest stockholder of Delta Air Lines, Inc. (NYSE:DAL) within our database holding more than 26.57 million shares valued at $1.19 billion as of the end of the third quarter.

At the beginning of January, Delta Airlines announced some of its financial and operational performance for December and said that its consolidated passenger unit revenue (PSRAM) slid by an annual 5%. In this way, the company now expects an operating margin between 16.5% and 17.5%, while unit revenue is expected to fall by around 1.5% for the last quarter of 2015.