Danaos Co. (NYSE:DAC) Shares Acquired by Inspire Advisors LLC

Inspire Advisors LLC boosted its position in Danaos Co. (NYSE:DAC) by 37.4% in the second quarter, HoldingsChannel.com reports. The firm owned 5,089 shares of the shipping company’s stock after purchasing an additional 1,384 shares during the quarter. Inspire Advisors LLC’s holdings in Danaos were worth $470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in Danaos by 79.3% during the fourth quarter. Parallel Advisors LLC now owns 382 shares of the shipping company’s stock valued at $28,000 after buying an additional 169 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Danaos during the 2nd quarter valued at about $37,000. Scarborough Advisors LLC acquired a new position in shares of Danaos in the 4th quarter worth approximately $49,000. Signaturefd LLC grew its stake in shares of Danaos by 21.4% in the 2nd quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after purchasing an additional 122 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Danaos in the 2nd quarter worth approximately $76,000. 19.01% of the stock is owned by institutional investors.

Danaos Stock Up 0.2 %

Shares of Danaos stock opened at $78.84 on Friday. The company has a quick ratio of 4.04, a current ratio of 4.18 and a debt-to-equity ratio of 0.17. Danaos Co. has a 12-month low of $62.37 and a 12-month high of $98.25. The firm has a market capitalization of $1.53 billion, a PE ratio of 2.68 and a beta of 1.47. The stock’s fifty day moving average is $82.94 and its 200-day moving average is $81.68.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Monday, August 5th. The shipping company reported $6.78 earnings per share (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 company had revenue of $246.31 million for the quarter, compared to analyst estimates of $238.83 million. During the same quarter in the previous year, the firm posted $7.14 EPS. Equities analysts anticipate that Danaos Co. will post 28.43 earnings per share for the current year.

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Tuesday, August 20th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Tuesday, August 20th. Danaos’s dividend payout ratio is 10.86%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised their target price on shares of Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th.

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.