Inspire Advisors LLC Cuts Stake in Danaos Co. (NYSE:DAC)

Inspire Advisors LLC lowered its position in shares of Danaos Co. (NYSE:DAC - Free Report) by 73.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,291 shares of the shipping company's stock after selling 9,138 shares during the period. Inspire Advisors LLC's holdings in Danaos were worth $264,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new stake in Danaos during the third quarter valued at about $53,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in 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 in the last quarter. Allworth Financial LP boosted its position in Danaos by 340.1% during the fourth quarter. Allworth Financial LP now owns 1,941 shares of the shipping company's stock valued at $149,000 after purchasing an additional 1,500 shares in the last quarter. Avior Wealth Management LLC boosted its position in 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 in the last quarter. Finally, Verition Fund Management LLC bought a new stake in Danaos during the third quarter valued at about $205,000. Hedge funds and other institutional investors own 19.01% of the company's stock.

Danaos Price Performance

Shares of NYSE DAC opened at $80.96 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. The company has a market cap of $1.54 billion, a PE ratio of 3.12 and a beta of 1.41. The business has a 50-day simple moving average of $80.15 and a two-hundred day simple moving average of $81.32. Danaos Co. has a fifty-two week low of $69.33 and a fifty-two week high of $98.25.

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

Danaos Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Monday, February 24th. Danaos's dividend payout ratio is presently 13.12%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $105.00 price objective on shares of Danaos in a research report on Tuesday, February 11th. StockNews.com raised Danaos from a "hold" rating to a "buy" rating in a research report on Monday.

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.

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