Short Interest in Danaos Corporation (NYSE:DAC) Expands By 14.6%

Danaos Corporation (NYSE:DAC) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 435,572 shares, a growth of 14.6% from the March 31st total of 380,166 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average daily volume of 71,471 shares, the short-interest ratio is presently 6.1 days.

Danaos Price Performance

Shares of NYSE:DAC opened at $119.64 on Friday. The firm has a 50 day moving average of $114.60 and a 200-day moving average of $102.76. The stock has a market capitalization of $2.18 billion, a PE ratio of 4.47 and a beta of 0.90. Danaos has a 12 month low of $80.29 and a 12 month high of $123.93. The company has a current ratio of 3.28, a quick ratio of 3.23 and a debt-to-equity ratio of 0.23.

Danaos (NYSE:DAC) last released its quarterly earnings data on Monday, February 9th. The shipping company reported $7.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.46 by $0.68. The business had revenue of $266.27 million during the quarter, compared to analysts’ expectations of $253.00 million. Danaos had a net margin of 47.45% and a return on equity of 13.31%.

Danaos Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, February 23rd. Danaos’s dividend payout ratio is currently 13.44%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a report on Wednesday, January 21st. Freedom Capital raised shares of Danaos to a “hold” rating in a report on Tuesday, March 10th. Finally, Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $105.00.

Hedge Funds Weigh In On Danaos

A number of institutional investors have recently added to or reduced their stakes in DAC. Kestra Advisory Services LLC acquired a new position in Danaos during the 4th quarter worth approximately $43,000. Ascentis Independent Advisors acquired a new position in Danaos during the 1st quarter worth approximately $56,000. Raymond James Financial Inc. acquired a new position in Danaos in the 2nd quarter valued at approximately $64,000. Tower Research Capital LLC TRC acquired a new position in Danaos in the 2nd quarter valued at approximately $67,000. Finally, Farther Finance Advisors LLC increased its position in Danaos by 165.0% in the 4th quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 485 shares during the period. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Danaos Company Profile

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.