Danaos Co. (NYSE:DAC) Stake Boosted by Gordian Capital Singapore Pte Ltd

Gordian Capital Singapore Pte Ltd grew its stake in Danaos Co. (NYSE:DAC - Free Report) by 17,600,000.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,001 shares of the shipping company's stock after purchasing an additional 176,000 shares during the period. Danaos makes up about 8.6% of Gordian Capital Singapore Pte Ltd's portfolio, making the stock its 3rd biggest position. Gordian Capital Singapore Pte Ltd owned about 0.91% of Danaos worth $16,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of DAC. Acadian Asset Management LLC raised its holdings in shares of Danaos by 33.5% in the second quarter. Acadian Asset Management LLC now owns 788,905 shares of the shipping company's stock worth $72,823,000 after buying an additional 197,904 shares during the period. Significant Wealth Partners LLC increased its stake in Danaos by 1,048.0% in the first quarter. Significant Wealth Partners LLC now owns 43,798 shares of the shipping company's stock worth $3,162,000 after purchasing an additional 39,983 shares during the period. Sei Investments Co. bought a new stake in shares of Danaos during the first quarter worth $1,484,000. TrueMark Investments LLC purchased a new stake in shares of Danaos during the second quarter valued at $1,734,000. Finally, Marshall Wace LLP bought a new position in shares of Danaos in the second quarter worth about $1,250,000. Hedge funds and other institutional investors own 19.01% of the company's stock.

Danaos Trading Up 1.1 %

DAC traded up $0.95 on Wednesday, reaching $87.80. 76,946 shares of the company traded hands, compared to its average volume of 105,753. The company has a quick ratio of 4.04, a current ratio of 4.18 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.70 billion, a P/E ratio of 2.99 and a beta of 1.47. The firm has a fifty day simple moving average of $82.00 and a two-hundred day simple moving average of $82.80. Danaos Co. has a one year low of $62.37 and a one year high of $98.25.

Danaos (NYSE:DAC - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The shipping company reported $6.78 EPS for the quarter, missing the consensus estimate of $7.04 by ($0.26). Danaos had a return on equity of 17.88% and a net margin of 58.15%. The firm had revenue of $246.31 million for the quarter, compared to analysts' expectations of $238.83 million. During the same quarter in the previous year, the business earned $7.14 earnings per share. As a group, equities research analysts expect that Danaos Co. will post 28.43 earnings per share for the current year.

Danaos Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Tuesday, August 20th were given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $3.20 annualized dividend and a dividend yield of 3.64%. Danaos's payout ratio is presently 10.86%.

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.