Danaos Co. (NYSE:DAC) Sees Large Decline in Short Interest

Danaos Co. (NYSE:DAC) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 435,900 shares, a decline of 5.3% from the August 31st total of 460,100 shares. Based on an average daily volume of 101,300 shares, the days-to-cover ratio is currently 4.3 days. Currently, 4.4% of the company’s shares are short sold.

Danaos Trading Up 1.0 %

DAC traded up $0.83 during trading on Monday, hitting $86.81. 91,708 shares of the stock traded hands, compared to its average volume of 106,038. The firm has a market capitalization of $1.69 billion, a P/E ratio of 2.95 and a beta of 1.47. Danaos has a 12-month low of $62.37 and a 12-month high of $98.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.18 and a quick ratio of 4.04. The firm has a 50-day moving average of $81.98 and a 200 day moving average of $82.57.

Danaos (NYSE:DAC) last posted its earnings results on Monday, August 5th. The shipping company reported $6.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.04 by ($0.26). Danaos had a return on equity of 17.88% and a net margin of 58.15%. The business had revenue of $246.31 million during the quarter, compared to the consensus estimate of $238.83 million. During the same period in the previous year, the business earned $7.14 earnings per share. Equities research analysts anticipate that Danaos will post 28.43 EPS for the current year.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.80 per share. The ex-dividend date was Tuesday, August 20th. This represents a $3.20 annualized dividend and a dividend yield of 3.69%. Danaos’s dividend payout ratio (DPR) is presently 10.86%.

Hedge Funds Weigh In On Danaos

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC increased its position in Danaos by 79.3% during the 4th quarter. Parallel Advisors LLC now owns 382 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 169 shares during the period. nVerses Capital LLC bought a new stake in shares of Danaos during the 2nd quarter valued at about $37,000. Scarborough Advisors LLC bought a new position in Danaos in the fourth quarter worth about $49,000. Signaturefd LLC lifted its holdings in Danaos by 21.4% in the second quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after buying an additional 122 shares during the period. Finally, Mather Group LLC. bought a new stake in Danaos during the 2nd quarter valued at approximately $76,000. Institutional investors own 19.01% of the company’s stock.

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.