Ballentine Partners LLC Acquires 467 Shares of Danaos Co. (NYSE:DAC)

Ballentine Partners LLC raised its stake in shares of Danaos Co. (NYSE:DACFree Report) by 18.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,053 shares of the shipping company’s stock after buying an additional 467 shares during the quarter. Ballentine Partners LLC’s holdings in Danaos were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of DAC. Gordian Capital Singapore Pte Ltd grew its stake in 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 acquiring an additional 176,000 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Danaos during the second quarter valued at about $1,250,000. Sei Investments Co. increased its holdings in shares of Danaos by 56.9% in the second quarter. Sei Investments Co. now owns 32,242 shares of the shipping company’s stock worth $2,978,000 after purchasing an additional 11,687 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in Danaos during the third quarter valued at approximately $935,000. Finally, Inspire Advisors LLC grew its holdings in Danaos by 144.2% during the 3rd quarter. Inspire Advisors LLC now owns 12,429 shares of the shipping company’s stock valued at $1,078,000 after buying an additional 7,340 shares in the last quarter. Institutional investors own 19.01% of the company’s stock.

Danaos Trading Down 0.2 %

Shares of NYSE DAC opened at $77.39 on Friday. Danaos Co. has a 1-year low of $69.33 and a 1-year high of $98.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78. The business’s 50 day moving average is $79.92 and its two-hundred day moving average is $82.09. The stock has a market capitalization of $1.50 billion, a P/E ratio of 2.68 and a beta of 1.47.

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

Danaos Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 25th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, November 25th. This is a boost from Danaos’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.39%. Danaos’s payout ratio is currently 11.76%.

Analyst Ratings Changes

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

View Our Latest Analysis on Danaos

Danaos Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Danaos (NYSE:DAC)

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