DGS Capital Management LLC Has $958,000 Stock Holdings in Danaos Co. (NYSE:DAC)

DGS Capital Management LLC grew its position in Danaos Co. (NYSE:DAC) by 30.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,939 shares of the shipping company’s stock after purchasing an additional 2,989 shares during the period. DGS Capital Management LLC owned about 0.06% of Danaos worth $958,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in Danaos by 45.2% in the third quarter. Signaturefd LLC now owns 524 shares of the shipping company’s stock worth $35,000 after purchasing an additional 163 shares during the period. Thrivent Financial for Lutherans raised its holdings in Danaos by 2.7% in the first quarter. Thrivent Financial for Lutherans now owns 6,535 shares of the shipping company’s stock worth $357,000 after purchasing an additional 173 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in 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 purchasing an additional 199 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in Danaos by 1.1% in the first quarter. Schonfeld Strategic Advisors LLC now owns 18,300 shares of the shipping company’s stock worth $1,000,000 after purchasing an additional 200 shares during the period. Finally, Citigroup Inc. raised its holdings in Danaos by 34.2% in the first quarter. Citigroup Inc. now owns 808 shares of the shipping company’s stock worth $44,000 after purchasing an additional 206 shares during the period. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 target price on shares of Danaos in a report on Wednesday, February 14th.

Danaos Stock Up 0.1 %

Shares of NYSE:DAC traded up $0.10 during midday trading on Tuesday, reaching $72.48. 44,981 shares of the company were exchanged, compared to its average volume of 103,955. Danaos Co. has a fifty-two week low of $53.89 and a fifty-two week high of $80.39. 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 stock has a fifty day simple moving average of $72.30 and a two-hundred day simple moving average of $71.04. The firm has a market cap of $1.41 billion, a PE ratio of 2.50 and a beta of 1.30.

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

Danaos Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 28th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Tuesday, February 27th. Danaos’s dividend payout ratio (DPR) is currently 11.05%.

About Danaos

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.