Significant Wealth Partners LLC Purchases Shares of 3,815 Danaos Co. (NYSE:DAC)

Significant Wealth Partners LLC acquired a new position in shares of Danaos Co. (NYSE:DAC) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,815 shares of the shipping company’s stock, valued at approximately $283,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC grew its position in Danaos by 23.2% during the third quarter. Acadian Asset Management LLC now owns 386,855 shares of the shipping company’s stock valued at $25,600,000 after acquiring an additional 72,910 shares during the period. Lazard Asset Management LLC raised its holdings in Danaos by 3.1% in the third quarter. Lazard Asset Management LLC now owns 87,538 shares of the shipping company’s stock valued at $5,796,000 after buying an additional 2,645 shares during the period. Foundry Partners LLC acquired a new position in shares of Danaos during the 3rd quarter valued at $5,471,000. Qube Research & Technologies Ltd boosted its position in Danaos by 100.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 45,854 shares of the shipping company’s stock worth $3,036,000 after purchasing an additional 22,970 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Danaos in the 3rd quarter valued at $1,711,000. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “buy” rating and set a $90.00 price objective on shares of Danaos in a research note on Wednesday, February 14th.

Danaos Stock Performance

Danaos stock opened at $73.89 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.84 and a current ratio of 2.98. Danaos Co. has a one year low of $53.89 and a one year high of $80.39. The stock’s 50 day moving average price is $72.09 and its 200 day moving average price is $71.29. The firm has a market capitalization of $1.43 billion, a PE ratio of 2.55 and a beta of 1.30.

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

Danaos Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Wednesday, February 28th were given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $3.20 dividend on an annualized basis and a yield of 4.33%. Danaos’s payout ratio is currently 11.05%.

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.