Quadrature Capital Ltd Lowers Holdings in Danaos Co. (NYSE:DAC)

Quadrature Capital Ltd reduced its holdings in Danaos Co. (NYSE:DAC - Free Report) by 84.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,538 shares of the shipping company's stock after selling 13,349 shares during the quarter. Quadrature Capital Ltd's holdings in Danaos were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Acadian Asset Management LLC increased its holdings in Danaos by 33.5% in the second quarter. Acadian Asset Management LLC now owns 788,905 shares of the shipping company's stock valued at $72,823,000 after buying an additional 197,904 shares in the last quarter. Gordian Capital Singapore Pte Ltd grew its holdings in shares of Danaos by 17,600,000.0% in the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company's stock worth $16,255,000 after acquiring an additional 176,000 shares during the period. TrueMark Investments LLC purchased a new position in Danaos in the 2nd quarter valued at approximately $1,734,000. Marshall Wace LLP purchased a new position in Danaos in the 2nd quarter valued at approximately $1,250,000. Finally, Sei Investments Co. raised its holdings in Danaos by 56.9% during the second quarter. Sei Investments Co. now owns 32,242 shares of the shipping company's stock worth $2,978,000 after purchasing an additional 11,687 shares during the last quarter. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

Danaos Price Performance

Shares of Danaos stock traded up $0.25 during trading on Thursday, hitting $79.10. 65,700 shares of the company were exchanged, compared to its average volume of 109,633. The firm has a 50 day moving average price of $82.97 and a 200 day moving average price of $85.06. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 2.74 and a beta of 1.49. 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 Co. has a fifty-two week low of $66.45 and a fifty-two week high of $98.25.

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

Danaos Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th were paid a dividend of $0.85 per share. This is a boost from Danaos's previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Monday, November 25th. Danaos's dividend payout ratio (DPR) is currently 11.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Jefferies Financial Group restated a "buy" rating and issued a $105.00 price target on shares of Danaos in a research report on Tuesday, November 12th. StockNews.com downgraded shares of Danaos from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th.

About Danaos

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.