Danaos Co. (NYSE:DAC) Shares Acquired by DGS Capital Management LLC

DGS Capital Management LLC boosted its position in Danaos Co. (NYSE:DAC - Free Report) by 71.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,945 shares of the shipping company's stock after purchasing an additional 9,994 shares during the period. DGS Capital Management LLC owned approximately 0.12% of Danaos worth $1,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC bought a new stake in shares of Danaos during the 3rd quarter worth approximately $53,000. nVerses Capital LLC lifted its position in shares of Danaos by 75.0% during the third quarter. nVerses Capital LLC now owns 700 shares of the shipping company's stock worth $61,000 after purchasing an additional 300 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Danaos by 37.7% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company's stock valued at $117,000 after purchasing an additional 400 shares during the period. Avior Wealth Management LLC boosted its stake in shares of Danaos by 297.9% during the third quarter. Avior Wealth Management LLC now owns 1,870 shares of the shipping company's stock valued at $162,000 after purchasing an additional 1,400 shares during the period. Finally, Verition Fund Management LLC bought a new position in shares of Danaos in the third quarter worth about $205,000. Hedge funds and other institutional investors own 19.01% of the company's stock.

Danaos Stock Down 0.2 %

Shares of NYSE DAC traded down $0.16 during midday trading on Friday, reaching $77.39. 76,544 shares of the company's stock traded hands, compared to its average volume of 97,906. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 2.68 and a beta of 1.47. The stock's 50 day simple moving average is $79.92 and its 200-day simple moving average is $82.09. 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 one year low of $69.33 and a one year high of $98.25.

Danaos (NYSE:DAC - Get Free Report) last posted its earnings results 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 last year, the firm earned $7.26 EPS. On average, analysts predict that Danaos Co. will post 26.99 EPS for the current fiscal year.

Danaos Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 25th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, November 25th. This is an increase from Danaos's previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 4.39%. Danaos's payout ratio is currently 11.76%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DAC shares. Jefferies Financial Group reissued a "buy" rating and issued a $105.00 price objective on shares of Danaos in a research report on Tuesday, November 12th. StockNews.com cut Danaos from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th.

Danaos Company 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.