Danaos Co. (NYSE:DAC) Shares Acquired by Allworth Financial LP

Allworth Financial LP raised its stake in Danaos Co. (NYSE:DAC) by 340.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,941 shares of the shipping company’s stock after acquiring an additional 1,500 shares during the period. Allworth Financial LP’s holdings in Danaos were worth $149,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in Danaos by 43.4% in the fourth quarter. Blue Trust Inc. now owns 5,335 shares of the shipping company’s stock valued at $427,000 after purchasing an additional 1,615 shares during the last quarter. DGS Capital Management LLC increased its stake in Danaos by 71.6% in the fourth quarter. DGS Capital Management LLC now owns 23,945 shares of the shipping company’s stock valued at $1,917,000 after purchasing an additional 9,994 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in Danaos by 37.7% in 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 during the last quarter. Avior Wealth Management LLC increased its stake in Danaos by 24.1% in the fourth quarter. Avior Wealth Management LLC now owns 2,321 shares of the shipping company’s stock valued at $186,000 after purchasing an additional 451 shares during the last quarter. Finally, Ballentine Partners LLC increased its stake in Danaos by 18.1% in the fourth quarter. Ballentine Partners LLC now owns 3,053 shares of the shipping company’s stock valued at $244,000 after purchasing an additional 467 shares during the last quarter. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DAC has been the topic of a number of research reports. Jefferies Financial Group restated a “buy” rating and set a $105.00 target price on shares of Danaos in a research report on Tuesday, February 11th. StockNews.com lowered shares of Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

Danaos Stock Performance

Shares of DAC opened at $84.82 on Monday. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.65 billion, a PE ratio of 3.27 and a beta of 1.42. The company’s 50 day simple moving average is $79.81 and its 200-day simple moving average is $81.52. Danaos Co. has a 12-month low of $69.33 and a 12-month high of $98.25.

Danaos (NYSE:DAC) last announced its quarterly earnings results on Monday, February 10th. The shipping company reported $6.50 earnings per share 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%. As a group, equities analysts predict that Danaos Co. will post 29.21 EPS for the current year.

Danaos Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Monday, February 24th. Danaos’s dividend payout ratio is presently 13.12%.

Danaos Company 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.