Inspire Advisors LLC Acquires 7,340 Shares of Danaos Co. (NYSE:DAC)

Inspire Advisors LLC increased its stake in Danaos Co. (NYSE:DAC) by 144.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,429 shares of the shipping company’s stock after acquiring an additional 7,340 shares during the quarter. Inspire Advisors LLC owned 0.06% of Danaos worth $1,078,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DAC. Acadian Asset Management LLC increased its position in Danaos by 33.5% in the 2nd quarter. Acadian Asset Management LLC now owns 788,905 shares of the shipping company’s stock valued at $72,823,000 after buying an additional 197,904 shares in the last quarter. Gordian Capital Singapore Pte Ltd boosted its holdings 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 worth $16,255,000 after purchasing an additional 176,000 shares during the last quarter. Foundry Partners LLC grew its holdings in shares of Danaos by 11.8% in the first quarter. Foundry Partners LLC now owns 86,893 shares of the shipping company’s stock valued at $6,274,000 after acquiring an additional 9,182 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Danaos by 1.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 77,365 shares of the shipping company’s stock worth $5,586,000 after buying an additional 975 shares during the last quarter. Finally, Significant Wealth Partners LLC grew its position in shares of Danaos by 1,048.0% during the 1st quarter. Significant Wealth Partners LLC now owns 43,798 shares of the shipping company’s stock valued at $3,162,000 after acquiring an additional 39,983 shares during the period. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Stock Performance

Shares of NYSE DAC traded up $0.56 during trading on Friday, reaching $83.68. 13,205 shares of the stock traded hands, compared to its average volume of 106,011. The company has a 50-day moving average of $82.60 and a 200-day moving average of $83.82. Danaos Co. has a 52-week low of $62.37 and a 52-week high of $98.25. The stock has a market capitalization of $1.62 billion, a P/E ratio of 2.82 and a beta of 1.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.18 and a quick ratio of 4.04.

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 company had revenue of $246.31 million for the quarter, compared to analysts’ expectations of $238.83 million. During the same quarter in the prior year, the company earned $7.14 EPS. Analysts forecast that Danaos Co. will post 28.43 EPS for the current fiscal year.

Danaos Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Tuesday, August 20th were issued a $0.80 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $3.20 annualized dividend and a dividend yield of 3.82%. 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.