DGS Capital Management LLC Purchases 9,994 Shares of Danaos Co. (NYSE:DAC)

DGS Capital Management LLC grew its position in shares of Danaos Co. (NYSE:DAC) by 71.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,945 shares of the shipping company’s stock after acquiring an additional 9,994 shares during the quarter. DGS Capital Management LLC owned about 0.12% of Danaos worth $1,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. bought a new position in shares of Danaos in the third quarter valued at $935,000. Corsair Capital Management L.P. purchased a new stake in shares of Danaos in the third quarter worth approximately $607,000. Gordian Capital Singapore Pte Ltd boosted its position in shares of Danaos by 17,600,000.0% during the second quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock valued at $16,255,000 after buying an additional 176,000 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Danaos in the 3rd quarter valued at $205,000. Finally, State Street Corp lifted its stake in Danaos by 2.3% during the 3rd quarter. State Street Corp now owns 24,098 shares of the shipping company’s stock valued at $2,090,000 after acquiring an additional 547 shares in the last quarter. 19.01% of the stock is owned by institutional investors and hedge funds.

Danaos Stock Down 0.2 %

DAC opened at $77.39 on Friday. Danaos Co. has a twelve month low of $69.33 and a twelve month high of $98.25. The company’s 50-day moving average price is $79.92 and its two-hundred day moving average price is $82.12. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 2.68 and a beta of 1.47. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.86 by ($0.36). Danaos had a net margin of 56.16% and a return on equity of 16.68%. The firm had revenue of $256.18 million during the quarter, compared to analysts’ expectations of $251.16 million. During the same quarter in the previous year, the company posted $7.26 EPS. As a group, equities analysts expect that Danaos Co. will post 26.99 earnings per share for the current year.

Danaos Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 25th were issued a $0.85 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $3.40 annualized dividend and a yield of 4.39%. This is a positive change from Danaos’s previous quarterly dividend of $0.80. Danaos’s dividend payout ratio (DPR) is 11.76%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $105.00 target price on shares of Danaos in a report on Tuesday, November 12th. StockNews.com cut shares of Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

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.