Walleye Capital LLC Purchases New Shares in Danaos Corporation $DAC

Walleye Capital LLC acquired a new stake in shares of Danaos Corporation (NYSE:DAC) during the second quarter, HoldingsChannel reports. The fund acquired 13,092 shares of the shipping company’s stock, valued at approximately $1,129,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. National Bank of Canada FI boosted its stake in shares of Danaos by 3.2% during the 1st quarter. National Bank of Canada FI now owns 3,914 shares of the shipping company’s stock valued at $305,000 after purchasing an additional 120 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its stake in Danaos by 1.5% in the second quarter. Redhawk Wealth Advisors Inc. now owns 12,594 shares of the shipping company’s stock worth $1,086,000 after buying an additional 185 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Danaos by 11.1% in the second quarter. SG Americas Securities LLC now owns 2,727 shares of the shipping company’s stock worth $235,000 after buying an additional 272 shares during the period. Assetmark Inc. boosted its position in Danaos by 15,500.0% during the 2nd quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 465 shares in the last quarter. Finally, PFG Advisors grew its holdings in shares of Danaos by 8.2% during the 2nd quarter. PFG Advisors now owns 6,637 shares of the shipping company’s stock worth $572,000 after acquiring an additional 502 shares during the period. 19.01% of the stock is owned by hedge funds and other institutional investors.

Danaos Trading Down 1.1%

Shares of NYSE DAC opened at $94.91 on Thursday. Danaos Corporation has a 1 year low of $65.40 and a 1 year high of $100.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.62 and a quick ratio of 4.51. The firm has a 50-day moving average of $91.68 and a 200 day moving average of $90.82. The stock has a market cap of $1.80 billion, a P/E ratio of 3.79 and a beta of 1.16.

Danaos (NYSE:DAC) last announced its quarterly earnings data on Monday, November 17th. The shipping company reported $6.75 earnings per share for the quarter, missing analysts’ consensus estimates of $7.17 by ($0.42). Danaos had a return on equity of 13.49% and a net margin of 45.16%.The business had revenue of $260.73 million during the quarter, compared to analysts’ expectations of $257.63 million. During the same quarter last year, the company posted $6.50 EPS. As a group, sell-side analysts expect that Danaos Corporation will post 29.21 EPS for the current fiscal year.

Danaos Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd will be given a dividend of $0.90 per share. This is a boost from Danaos’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 3.8%. Danaos’s dividend payout ratio is 14.37%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Danaos in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $105.00.

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.