Exchange Traded Concepts LLC Invests $327,000 in Danaos Co. (NYSE:DAC)

Exchange Traded Concepts LLC bought a new stake in shares of Danaos Co. (NYSE:DAC) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 3,765 shares of the shipping company’s stock, valued at approximately $327,000.

Other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its holdings in shares of Danaos by 33.5% during the 2nd quarter. Acadian Asset Management LLC now owns 788,905 shares of the shipping company’s stock worth $72,823,000 after buying an additional 197,904 shares in the last quarter. Gordian Capital Singapore Pte Ltd lifted its position in shares of Danaos by 17,600,000.0% during the 2nd 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 during the period. Foundry Partners LLC boosted its stake in Danaos by 11.8% during the first quarter. Foundry Partners LLC now owns 86,893 shares of the shipping company’s stock worth $6,274,000 after acquiring an additional 9,182 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Danaos by 1.3% in the first quarter. Commonwealth Equity Services LLC now owns 77,365 shares of the shipping company’s stock worth $5,586,000 after purchasing an additional 975 shares during the period. Finally, Significant Wealth Partners LLC increased its stake in Danaos by 1,048.0% in the first quarter. Significant Wealth Partners LLC now owns 43,798 shares of the shipping company’s stock valued at $3,162,000 after purchasing an additional 39,983 shares in the last quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Price Performance

DAC stock opened at $84.42 on Friday. 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 company’s 50-day moving average is $82.67 and its 200-day moving average is $83.99. The stock has a market capitalization of $1.64 billion, a PE ratio of 2.87 and a beta of 1.47. Danaos Co. has a 1 year low of $62.37 and a 1 year high of $98.25.

Danaos (NYSE:DAC) last announced its quarterly 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). The firm had revenue of $246.31 million during the quarter, compared to the consensus estimate of $238.83 million. Danaos had a return on equity of 17.88% and a net margin of 58.15%. During the same quarter in the previous year, the company posted $7.14 EPS. Equities research analysts expect that Danaos Co. will post 28.43 EPS for the current fiscal year.

Danaos Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders 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 dividend on an annualized basis and a yield of 3.79%. Danaos’s dividend payout ratio (DPR) is presently 10.86%.

Danaos Company Profile

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.