Commonwealth Equity Services LLC Cuts Position in Danaos Co. (NYSE:DAC)

Commonwealth Equity Services LLC decreased its position in Danaos Co. (NYSE:DAC) by 2.9% during the fourth quarter, Holdings Channel reports. The firm owned 77,545 shares of the shipping company’s stock after selling 2,314 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Danaos were worth $6,209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DAC. State Street Corp grew its stake in shares of Danaos by 2.3% in the third quarter. State Street Corp now owns 24,098 shares of the shipping company’s stock worth $2,090,000 after acquiring an additional 547 shares in the last quarter. DGS Capital Management LLC grew its stake in shares of Danaos by 71.6% in the fourth quarter. DGS Capital Management LLC now owns 23,945 shares of the shipping company’s stock worth $1,917,000 after acquiring an additional 9,994 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of Danaos by 5.5% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 9,258 shares of the shipping company’s stock worth $741,000 after acquiring an additional 485 shares in the last quarter. Corsair Capital Management L.P. acquired a new position in shares of Danaos in the third quarter worth $607,000. Finally, PFG Advisors grew its stake in shares of Danaos by 12.5% in the fourth quarter. PFG Advisors now owns 5,856 shares of the shipping company’s stock worth $469,000 after acquiring an additional 651 shares in the last quarter. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Analyst Upgrades and Downgrades

DAC has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $105.00 target price on shares of Danaos in a research note on Tuesday, February 11th. StockNews.com upgraded shares of Danaos from a “hold” rating to a “buy” rating in a research note on Monday, March 10th.

Danaos Trading Down 3.2 %

Shares of Danaos stock opened at $81.00 on Friday. The company has a 50-day moving average of $80.25 and a two-hundred day moving average of $81.26. The stock has a market cap of $1.54 billion, a PE ratio of 3.13 and a beta of 1.41. Danaos Co. has a 12-month low of $71.32 and a 12-month high of $98.25. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19.

Danaos (NYSE:DAC) last posted its quarterly earnings results on Monday, February 10th. The shipping company reported $6.50 earnings per share for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.02). Danaos had a return on equity of 16.03% and a net margin of 49.81%. On average, research analysts anticipate that Danaos Co. will post 29.21 EPS for the current fiscal year.

Danaos Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $0.85 dividend. The ex-dividend date was Monday, February 24th. This represents a $3.40 dividend on an annualized basis and a yield of 4.20%. Danaos’s dividend payout ratio is currently 13.12%.

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.