DGS Capital Management LLC Boosts Stock Position in Danaos Co. (NYSE:DAC)

DGS Capital Management LLC raised its stake in Danaos Co. (NYSE:DAC) by 30.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,939 shares of the shipping company’s stock after buying an additional 2,989 shares during the quarter. DGS Capital Management LLC’s holdings in Danaos were worth $958,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Danaos by 14.2% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,600 shares of the shipping company’s stock worth $118,000 after acquiring an additional 199 shares during the last quarter. Blue Trust Inc. acquired a new stake in shares of Danaos during the fourth quarter worth about $25,000. Planned Solutions Inc. acquired a new stake in shares of Danaos during the fourth quarter worth about $70,000. Toroso Investments LLC lifted its holdings in shares of Danaos by 76.8% during the third quarter. Toroso Investments LLC now owns 6,687 shares of the shipping company’s stock worth $443,000 after purchasing an additional 2,904 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Danaos by 45.6% during the third quarter. Royal Bank of Canada now owns 12,010 shares of the shipping company’s stock worth $796,000 after purchasing an additional 3,763 shares during the period. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Danaos Stock Performance

NYSE:DAC traded up $0.10 during trading hours on Tuesday, reaching $72.48. The company had a trading volume of 44,981 shares, compared to its average volume of 103,955. Danaos Co. has a 1-year low of $53.89 and a 1-year high of $80.39. The firm has a market cap of $1.41 billion, a PE ratio of 2.50 and a beta of 1.30. The business’s 50 day moving average price is $72.30 and its 200-day moving average price is $71.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.98 and a quick ratio of 2.84.

Danaos (NYSE:DAC) last announced its quarterly earnings results on Tuesday, February 13th. The shipping company reported $6.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.70 by ($0.71). Danaos had a net margin of 59.19% and a return on equity of 19.94%. The company had revenue of $249.32 million during the quarter, compared to analyst estimates of $254.37 million. Research analysts forecast that Danaos Co. will post 31.33 EPS for the current year.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Tuesday, February 27th. Danaos’s payout ratio is 11.05%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Danaos in a report on Wednesday, February 14th.

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.