Gordian Capital Singapore Pte Ltd reduced its position in shares of Danaos Co. (NYSE:DAC - Free Report) by 94.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,301 shares of the shipping company's stock after selling 166,700 shares during the quarter. Gordian Capital Singapore Pte Ltd's holdings in Danaos were worth $807,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC boosted its stake in shares of Danaos by 33.5% during the 2nd quarter. Acadian Asset Management LLC now owns 788,905 shares of the shipping company's stock worth $72,823,000 after acquiring an additional 197,904 shares in the last quarter. Sei Investments Co. lifted its holdings in Danaos by 56.9% in the 2nd 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. Janney Montgomery Scott LLC boosted its position in Danaos by 2.9% during the third quarter. Janney Montgomery Scott LLC now owns 26,908 shares of the shipping company's stock worth $2,334,000 after purchasing an additional 766 shares during the period. State Street Corp grew its holdings in Danaos by 2.3% during the third quarter. State Street Corp now owns 24,098 shares of the shipping company's stock valued at $2,090,000 after purchasing an additional 547 shares during the last quarter. Finally, TrueMark Investments LLC bought a new position in shares of Danaos in the second quarter valued at approximately $1,734,000. Hedge funds and other institutional investors own 19.01% of the company's stock.
Danaos Stock Performance
DAC stock traded up $0.62 on Monday, reaching $81.99. 158,116 shares of the company were exchanged, compared to its average volume of 109,350. The firm has a market capitalization of $1.59 billion, a PE ratio of 2.81 and a beta of 1.49. Danaos Co. has a 12 month low of $66.45 and a 12 month high of $98.25. The stock's fifty day moving average price is $83.50 and its 200 day moving average price is $85.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78.
Danaos (NYSE:DAC - Get Free Report) last released its earnings results on Tuesday, November 12th. The shipping company reported $6.50 earnings per share 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 business posted $7.26 EPS. On average, research analysts anticipate that Danaos Co. will post 27.56 EPS for the current fiscal year.
Danaos Increases Dividend
The firm 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. The ex-dividend date of this dividend was Monday, November 25th. This represents a $3.40 dividend on an annualized basis and a yield of 4.15%. This is an increase from Danaos's previous quarterly dividend of $0.80. Danaos's payout ratio is currently 11.76%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $105.00 price objective on shares of Danaos in a report on Tuesday, November 12th. StockNews.com cut Danaos from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th.
Check Out Our Latest Report on Danaos
About Danaos
(
Free Report)
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.
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