Shikiar Asset Management Inc. Invests $603,000 in Danaos Corporation $DAC

Shikiar Asset Management Inc. purchased a new position in shares of Danaos Corporation (NYSE:DAC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,400 shares of the shipping company’s stock, valued at approximately $603,000.

A number of other hedge funds have also made changes to their positions in DAC. Ion Asset Management Ltd. grew its position in shares of Danaos by 15.5% during the second quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock worth $56,428,000 after buying an additional 87,614 shares in the last quarter. Millennium Management LLC grew its position in shares of Danaos by 161.8% during the third 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 in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Danaos by 183.6% during the first quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company’s stock worth $3,606,000 after buying an additional 29,921 shares in the last quarter. Hi Line Capital Management LLC grew its position in shares of Danaos by 98.6% during the third quarter. Hi Line Capital Management LLC now owns 57,133 shares of the shipping company’s stock worth $5,131,000 after buying an additional 28,365 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Danaos during the third quarter worth approximately $2,541,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DAC shares. Freedom Capital raised shares of Danaos to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

Danaos Stock Performance

Danaos stock opened at $116.95 on Thursday. The company has a market cap of $2.13 billion, a PE ratio of 4.37 and a beta of 0.95. The company has a fifty day moving average price of $110.41 and a two-hundred day moving average price of $99.55. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.28 and a quick ratio of 3.23. Danaos Corporation has a 12 month low of $65.40 and a 12 month high of $118.82.

Danaos (NYSE:DAC) last released its quarterly earnings data on Monday, February 9th. The shipping company reported $7.14 EPS for the quarter, topping analysts’ consensus estimates of $6.46 by $0.68. The firm had revenue of $266.27 million during the quarter, compared to the consensus estimate of $253.00 million. Danaos had a net margin of 47.45% and a return on equity of 13.31%. Research analysts expect that Danaos Corporation will post 29.21 earnings per share for the current year.

Danaos Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, February 23rd. Danaos’s payout ratio is currently 13.44%.

Danaos 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.