Sei Investments Co. Acquires 3,696 Shares of Danaos Co. (NYSE:DAC)

Sei Investments Co. boosted its stake in shares of Danaos Co. (NYSE:DAC - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,629 shares of the shipping company's stock after acquiring an additional 3,696 shares during the quarter. Sei Investments Co. owned approximately 0.17% of Danaos worth $2,613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Verition Fund Management LLC acquired a new position in shares of Danaos during the third quarter worth approximately $205,000. State Street Corp increased its stake in shares of Danaos by 2.3% in the 3rd quarter. State Street Corp now owns 24,098 shares of the shipping company's stock valued at $2,090,000 after buying an additional 547 shares during the period. National Bank of Canada FI increased its stake in shares of Danaos by 4.9% in the 3rd 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 during the period. XTX Topco Ltd bought a new stake in shares of Danaos during the third quarter worth $351,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Danaos during the third quarter valued at $359,000. Institutional investors and hedge funds own 19.01% of the company's stock.

Danaos Trading Up 8.0 %

Shares of Danaos stock traded up $5.29 during trading on Wednesday, reaching $71.76. 164,494 shares of the company were exchanged, compared to its average volume of 109,467. Danaos Co. has a twelve month low of $65.44 and a twelve month high of $98.25. The business has a 50-day moving average price of $79.30 and a 200-day moving average price of $80.82. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 2.77 and a beta of 1.32.

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Danaos (NYSE:DAC - Get Free Report) last issued its quarterly earnings data 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%. Sell-side analysts anticipate that Danaos Co. will post 29.21 EPS for the current fiscal year.

Danaos Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 4.74%. The ex-dividend date was Monday, February 24th. Danaos's payout ratio is presently 13.12%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com raised Danaos from a "hold" rating to a "buy" rating in a report on Monday, March 10th. Jefferies Financial Group restated a "buy" rating and issued a $105.00 price objective on shares of Danaos in a report on Tuesday, February 11th.

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.