Inspire Advisors LLC boosted its position in Danaos Co. (NYSE:DAC – Free Report) 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 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.
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