Danaos Corp. (NYSE:DAC)’s share price fell 2.4% during trading on Wednesday . The stock traded as low as $2.80 and last traded at $2.83, with a volume of 61,918 shares changing hands. The stock had previously closed at $2.90.

Several brokerages have commented on DAC. Jefferies Group reissued a “hold” rating on shares of Danaos Corp. in a research report on Monday, September 12th. Zacks Investment Research lowered Danaos Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th.

The stock has a 50-day moving average of $3.47 and a 200-day moving average of $3.68. The company has a market capitalization of $310.73 million, a PE ratio of 2.26 and a beta of 1.07.

Danaos Corp. (NYSE:DAC) last announced its earnings results on Monday, August 1st. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Danaos Corp. had a return on equity of 21.29% and a net margin of 24.43%. The firm had revenue of $137 million for the quarter, compared to analysts’ expectations of $135.57 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts expect that Danaos Corp. will post $1.56 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. purchased a new stake in shares of Danaos Corp. during the first quarter valued at approximately $122,000. Acrospire Investment Management LLC purchased a new stake in shares of Danaos Corp. during the first quarter valued at approximately $253,000. Spark Investment Management LLC boosted its stake in shares of Danaos Corp. by 71.6% in the first quarter. Spark Investment Management LLC now owns 35,700 shares of the company’s stock valued at $135,000 after buying an additional 14,900 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Danaos Corp. during the first quarter valued at approximately $128,000. Finally, Clark Capital Management Group Inc. boosted its stake in shares of Danaos Corp. by 15.9% in the first quarter. Clark Capital Management Group Inc. now owns 429,607 shares of the company’s stock valued at $1,633,000 after buying an additional 59,016 shares during the last quarter. 2.21% of the stock is currently owned by hedge funds and other institutional investors.

About Danaos Corp.

Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company.

5 Day Chart for NYSE:DAC

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