Significant Wealth Partners LLC Takes Position in Danaos Co. (NYSE:DAC)

Significant Wealth Partners LLC acquired a new position in Danaos Co. (NYSE:DAC) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 3,815 shares of the shipping company’s stock, valued at approximately $283,000.

Several other large investors have also made changes to their positions in DAC. Qube Research & Technologies Ltd increased its position in Danaos by 100.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 45,854 shares of the shipping company’s stock worth $3,036,000 after buying an additional 22,970 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Danaos by 14.2% in 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. Campbell & CO Investment Adviser LLC bought a new position in Danaos during the third quarter worth $1,711,000. Acadian Asset Management LLC increased its position in Danaos by 23.2% during the third quarter. Acadian Asset Management LLC now owns 386,855 shares of the shipping company’s stock worth $25,600,000 after acquiring an additional 72,910 shares during the period. Finally, Planned Solutions Inc. acquired a new position in Danaos during the 4th quarter valued at $70,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Trading Up 1.3 %

Shares of DAC opened at $73.89 on Tuesday. The stock’s 50-day moving average price is $72.09 and its 200 day moving average price is $71.29. The company has a quick ratio of 2.84, a current ratio of 2.98 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 2.55 and a beta of 1.30. Danaos Co. has a 12-month low of $53.89 and a 12-month high of $80.39.

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

Danaos Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Wednesday, February 28th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Tuesday, February 27th. Danaos’s dividend payout ratio is 11.05%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “buy” rating and issued a $90.00 price target on shares of Danaos in a research 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.