DGS Capital Management LLC Grows Stock Position in Danaos Co. (NYSE:DAC)

DGS Capital Management LLC grew its holdings in Danaos Co. (NYSE:DAC) by 13.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,709 shares of the shipping company’s stock after purchasing an additional 1,770 shares during the period. DGS Capital Management LLC’s holdings in Danaos were worth $1,062,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Campbell & CO Investment Adviser LLC increased its stake in Danaos by 40.9% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 36,418 shares of the shipping company’s stock worth $2,697,000 after purchasing an additional 10,577 shares during the period. Qube Research & Technologies Ltd increased its stake in Danaos by 100.4% in the third 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. Harel Insurance Investments & Financial Services Ltd. increased its stake 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. Chesapeake Capital Corp IL purchased a new stake in Danaos in the fourth quarter worth $940,000. Finally, Quadrant Capital Group LLC increased its stake in Danaos by 35.5% in the fourth quarter. Quadrant Capital Group LLC now owns 4,399 shares of the shipping company’s stock worth $326,000 after purchasing an additional 1,152 shares during the period. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group increased their price target on Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th.

Danaos Price Performance

DAC opened at $93.66 on Thursday. Danaos Co. has a 12-month low of $62.37 and a 12-month high of $98.25. The company has a current ratio of 3.89, a quick ratio of 3.75 and a debt-to-equity ratio of 0.14. The business’s fifty day simple moving average is $86.05 and its 200-day simple moving average is $77.74. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 3.18 and a beta of 1.36.

Danaos (NYSE:DAC) last posted its quarterly earnings results on Tuesday, May 28th. The shipping company reported $7.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.71 by ($0.56). Danaos had a return on equity of 18.99% and a net margin of 59.04%. The firm had revenue of $253.45 million for the quarter. During the same quarter last year, the firm earned $7.14 earnings per share. On average, equities research analysts anticipate that Danaos Co. will post 29.18 earnings per share for the current fiscal year.

Danaos Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 11th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Tuesday, June 11th. Danaos’s payout ratio is currently 10.86%.

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.