Sei Investments Co. Increases Stock Position in Danaos Corporation $DAC

Sei Investments Co. increased its holdings in shares of Danaos Corporation (NYSE:DAC) by 99.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,248 shares of the shipping company’s stock after purchasing an additional 22,028 shares during the quarter. Sei Investments Co.’s holdings in Danaos were worth $4,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ION Fund Management Ltd bought a new position in Danaos in the fourth quarter valued at about $39,538,000. Ion Asset Management Ltd. boosted its position in shares of Danaos by 15.5% in the second quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock worth $56,428,000 after purchasing an additional 87,614 shares during the period. Millennium Management LLC boosted its holdings in Danaos by 161.8% in the 3rd quarter. Millennium Management LLC now owns 133,401 shares of the shipping company’s stock worth $11,981,000 after buying an additional 82,450 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Danaos by 58.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 106,089 shares of the shipping company’s stock worth $9,991,000 after acquiring an additional 38,958 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Danaos in the 3rd quarter worth approximately $2,541,000. Institutional investors own 19.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on DAC. Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Weiss Ratings upgraded Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Danaos currently has a consensus rating of “Buy”.

Danaos Stock Down 0.1%

Shares of DAC opened at $138.53 on Thursday. The company’s 50-day moving average price is $129.93 and its 200 day moving average price is $120.02. Danaos Corporation has a 12-month low of $83.56 and a 12-month high of $143.48. The firm has a market cap of $2.52 billion, a P/E ratio of 4.69 and a beta of 0.89. The company has a current ratio of 8.66, a quick ratio of 8.40 and a debt-to-equity ratio of 0.26.

Danaos (NYSE:DAC) last released its earnings results on Monday, August 3rd. The shipping company reported $7.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.80 by $0.49. The company had revenue of $274.37 million for the quarter, compared to analyst estimates of $258.27 million. Danaos had a net margin of 51.26% and a return on equity of 13.42%.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Tuesday, July 21st were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, July 21st. Danaos’s dividend payout ratio (DPR) is 12.18%.

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.