Danaos Co. (NYSE:DAC) Shares Sold by Inspire Advisors LLC

Inspire Advisors LLC decreased its position in shares of Danaos Co. (NYSE:DAC) by 73.5% in the fourth quarter, HoldingsChannel reports. The firm owned 3,291 shares of the shipping company’s stock after selling 9,138 shares during the quarter. Inspire Advisors LLC’s holdings in Danaos were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of DAC. Oppenheimer & Co. Inc. acquired a new stake in shares of Danaos during the third quarter worth about $935,000. DGS Capital Management LLC lifted its holdings in shares of Danaos by 71.6% during the fourth quarter. DGS Capital Management LLC now owns 23,945 shares of the shipping company’s stock worth $1,917,000 after purchasing an additional 9,994 shares during the period. Corsair Capital Management L.P. purchased a new position in Danaos during the third quarter valued at approximately $607,000. Public Employees Retirement System of Ohio purchased a new position in Danaos during the third quarter valued at approximately $359,000. Finally, XTX Topco Ltd purchased a new position in Danaos during the third quarter valued at approximately $351,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DAC. Jefferies Financial Group reiterated a “buy” rating and set a $105.00 price target on shares of Danaos in a research report on Tuesday, February 11th. StockNews.com upgraded Danaos from a “hold” rating to a “buy” rating in a research report on Monday.

Danaos Stock Up 0.7 %

Shares of DAC stock opened at $80.96 on Thursday. The stock has a 50 day moving average of $80.15 and a 200 day moving average of $81.32. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.54 billion, a P/E ratio of 3.12 and a beta of 1.41. Danaos Co. has a twelve month low of $69.33 and a twelve month high of $98.25.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Monday, February 10th. The shipping company reported $6.50 EPS for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.02). Danaos had a net margin of 49.81% and a return on equity of 16.03%. As a group, sell-side analysts expect that Danaos Co. will post 29.21 EPS for the current year.

Danaos Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Monday, February 24th. Danaos’s dividend payout ratio (DPR) is presently 13.12%.

Danaos 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.