Danaos Corporation $DAC Shares Bought by U S Global Investors Inc.

U S Global Investors Inc. grew its stake in Danaos Corporation (NYSE:DAC) by 195.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,418 shares of the shipping company’s stock after purchasing an additional 4,249 shares during the period. U S Global Investors Inc.’s holdings in Danaos were worth $723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DAC. JPMorgan Chase & Co. lifted its stake in shares of Danaos by 18.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,179 shares of the shipping company’s stock valued at $8,817,000 after purchasing an additional 15,345 shares during the period. Shikiar Asset Management Inc. purchased a new stake in Danaos during the fourth quarter worth $603,000. Diversified Trust Co acquired a new stake in Danaos during the first quarter valued at $498,000. Midwest Professional Planners LTD. acquired a new stake in Danaos during the fourth quarter valued at $487,000. Finally, Marnell Management LLC purchased a new position in Danaos in the fourth quarter valued at $670,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

Analyst Ratings Changes

DAC has been the subject of a number of analyst reports. Weiss Ratings downgraded shares of Danaos from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Fearnley Fonds upgraded Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One research 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.com, the stock has an average rating of “Buy” and an average price target of $105.00.

Danaos Price Performance

Shares of Danaos stock traded up $0.68 on Friday, reaching $128.01. The company’s stock had a trading volume of 89,213 shares, compared to its average volume of 79,697. The company has a quick ratio of 8.40, a current ratio of 8.66 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.33 billion, a P/E ratio of 4.52 and a beta of 0.89. The stock has a 50-day moving average price of $128.27 and a 200-day moving average price of $114.98. Danaos Corporation has a 52-week low of $83.56 and a 52-week high of $135.21.

Danaos (NYSE:DAC) last announced its earnings results on Monday, May 11th. The shipping company reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.86 by $0.86. Danaos had a return on equity of 13.18% and a net margin of 49.85%.The firm had revenue of $253.70 million for the quarter, compared to analyst estimates of $242.20 million.

Danaos Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Tuesday, July 21st will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, July 21st. This represents a $3.60 dividend on an annualized basis and a yield of 2.8%. Danaos’s dividend payout ratio is currently 12.70%.

About Danaos

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.