Danaos Co. (NYSE:DAC) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its holdings in Danaos Co. (NYSE:DAC - Free Report) by 18.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 314,787 shares of the shipping company's stock after acquiring an additional 48,155 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.62% of Danaos worth $25,205,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in DAC. Verition Fund Management LLC acquired a new stake in Danaos in the 3rd quarter valued at $205,000. State Street Corp boosted its position in shares of Danaos by 2.3% in the third quarter. State Street Corp now owns 24,098 shares of the shipping company's stock worth $2,090,000 after buying an additional 547 shares during the period. National Bank of Canada FI grew its stake in shares of Danaos by 4.9% in the third quarter. National Bank of Canada FI now owns 3,871 shares of the shipping company's stock valued at $336,000 after buying an additional 182 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Danaos during the 3rd quarter valued at about $351,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Danaos during the 3rd quarter worth approximately $359,000. Hedge funds and other institutional investors own 19.01% of the company's stock.

Analyst Upgrades and Downgrades

DAC has been the subject of several recent research reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $105.00 price objective on shares of Danaos in a research report on Tuesday, February 11th. StockNews.com raised shares of Danaos from a "hold" rating to a "buy" rating in a research note on Monday, March 10th.

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Danaos Stock Down 3.9 %

DAC traded down $2.70 on Tuesday, reaching $66.25. The company's stock had a trading volume of 174,610 shares, compared to its average volume of 109,214. Danaos Co. has a 1 year low of $65.62 and a 1 year high of $98.25. The business's 50 day moving average is $79.62 and its 200 day moving average is $80.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 2.56 and a beta of 1.32.

Danaos (NYSE:DAC - Get Free Report) last announced its earnings results on Monday, February 10th. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.52 by ($0.02). Danaos had a net margin of 49.81% and a return on equity of 16.03%. As a group, research analysts forecast that Danaos Co. will post 29.21 EPS for the current fiscal year.

Danaos Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 5.13%. The ex-dividend date was Monday, February 24th. Danaos's dividend payout ratio is currently 13.12%.

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.