Moors & Cabot Inc. Has $272,000 Stock Position in Danaos Co. (NYSE:DAC)

Moors & Cabot Inc. lowered its holdings in Danaos Co. (NYSE:DAC) by 45.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,392 shares of the shipping company’s stock after selling 2,850 shares during the quarter. Moors & Cabot Inc.’s holdings in Danaos were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. National Bank of Canada FI grew its holdings in shares of Danaos by 4.9% during the 3rd quarter. National Bank of Canada FI now owns 3,871 shares of the shipping company’s stock worth $336,000 after purchasing an additional 182 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Danaos by 37.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company’s stock worth $117,000 after purchasing an additional 400 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Danaos by 24.1% during the 4th quarter. Avior Wealth Management LLC now owns 2,321 shares of the shipping company’s stock worth $186,000 after purchasing an additional 451 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Danaos by 18.1% during the 4th quarter. Ballentine Partners LLC now owns 3,053 shares of the shipping company’s stock worth $244,000 after purchasing an additional 467 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. grew its holdings in shares of Danaos by 5.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,258 shares of the shipping company’s stock worth $741,000 after purchasing an additional 485 shares in the last quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Price Performance

Danaos stock opened at $79.53 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78. The company has a market capitalization of $1.51 billion, a PE ratio of 3.07 and a beta of 1.41. Danaos Co. has a one year low of $69.33 and a one year high of $98.25. The business has a 50 day simple moving average of $80.03 and a 200 day simple moving average of $81.26.

Danaos (NYSE:DAC) last posted its earnings results on Monday, February 10th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.52 by ($0.02). Danaos had a return on equity of 16.03% and a net margin of 49.81%. On average, sell-side analysts forecast that Danaos Co. will post 29.21 EPS for the current fiscal year.

Danaos Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $3.40 annualized dividend and a dividend yield of 4.28%. Danaos’s dividend payout ratio (DPR) is presently 13.12%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DAC shares. Jefferies Financial Group reissued a “buy” rating and set a $105.00 price objective on shares of Danaos in a report on Tuesday, February 11th. StockNews.com raised Danaos from a “hold” rating to a “buy” rating in a report on Monday, March 10th.

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.