7,000 Shares in Danaos Co. (NYSE:DAC) Bought by Corsair Capital Management L.P.

Corsair Capital Management L.P. purchased a new position in shares of Danaos Co. (NYSE:DAC - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,000 shares of the shipping company's stock, valued at approximately $607,000.

A number of other large investors also recently bought and sold shares of DAC. nVerses Capital LLC acquired a new stake in Danaos during the 2nd quarter valued at $37,000. Farther Finance Advisors LLC acquired a new stake in shares of Danaos in the 3rd quarter worth approximately $53,000. Signaturefd LLC raised its holdings in shares of Danaos by 21.4% in the 2nd quarter. Signaturefd LLC now owns 692 shares of the shipping company's stock worth $64,000 after purchasing an additional 122 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Danaos in the 2nd quarter worth approximately $76,000. Finally, Blue Trust Inc. raised its holdings in shares of Danaos by 7,620.0% during the second quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company's stock valued at $107,000 after acquiring an additional 1,143 shares during the period. Hedge funds and other institutional investors own 19.01% of the company's stock.

Analyst Ratings Changes

DAC has been the subject of several recent research reports. Jefferies Financial Group reissued a "buy" rating and issued a $105.00 target price on shares of Danaos in a research report on Tuesday, November 12th. StockNews.com cut shares of Danaos from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th.

Danaos Stock Performance

Shares of Danaos stock traded down $0.29 during trading on Wednesday, reaching $78.93. The company's stock had a trading volume of 146,550 shares, compared to its average volume of 108,068. The firm has a market cap of $1.53 billion, a PE ratio of 2.76 and a beta of 1.47. The business's 50-day moving average price is $83.97 and its 200-day moving average price is $85.52. Danaos Co. has a 52 week low of $66.45 and a 52 week high of $98.25. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19.

Danaos (NYSE:DAC - Get Free Report) last announced its earnings results on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.86 by ($0.36). Danaos had a net margin of 56.16% and a return on equity of 16.68%. The company had revenue of $256.18 million during the quarter, compared to the consensus estimate of $251.16 million. During the same quarter in the previous year, the company earned $7.26 earnings per share. Equities analysts forecast that Danaos Co. will post 27.56 earnings per share for the current year.

Danaos Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 25th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, November 25th. This is a positive change from Danaos's previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 4.31%. Danaos's dividend payout ratio (DPR) is currently 11.76%.

Danaos Profile

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.