TrueMark Investments LLC Acquires 46,930 Shares of Danaos Co. (NYSE:DAC)

TrueMark Investments LLC increased its holdings in Danaos Co. (NYSE:DAC) by 252.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,485 shares of the shipping company’s stock after acquiring an additional 46,930 shares during the period. Danaos comprises 1.7% of TrueMark Investments LLC’s investment portfolio, making the stock its 15th biggest holding. TrueMark Investments LLC’s holdings in Danaos were worth $5,243,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Danaos by 37.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company’s stock valued at $117,000 after acquiring an additional 400 shares in the last quarter. Allworth Financial LP boosted its holdings in Danaos by 340.1% during the fourth quarter. Allworth Financial LP now owns 1,941 shares of the shipping company’s stock worth $149,000 after purchasing an additional 1,500 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Danaos by 24.1% during the fourth quarter. Avior Wealth Management LLC now owns 2,321 shares of the shipping company’s stock worth $186,000 after purchasing an additional 451 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Danaos in the 3rd quarter valued at about $205,000. Finally, Ballentine Partners LLC boosted its stake in shares of Danaos by 18.1% in the 4th quarter. Ballentine Partners LLC now owns 3,053 shares of the shipping company’s stock worth $244,000 after buying an additional 467 shares during the last quarter. Institutional investors own 19.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DAC shares. StockNews.com raised Danaos from a “hold” rating to a “buy” rating in a report on Monday, March 10th. 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.

Danaos Stock Performance

Shares of DAC stock opened at $80.72 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 3.12 and a beta of 1.41. Danaos Co. has a 52 week low of $71.32 and a 52 week high of $98.25. The firm’s 50-day simple moving average is $80.32 and its two-hundred day simple moving average is $81.33.

Danaos (NYSE:DAC) last posted its quarterly earnings results 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 return on equity of 16.03% and a net margin of 49.81%. As a group, equities analysts forecast that Danaos Co. will post 29.21 earnings per share for the current year.

Danaos Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $3.40 annualized dividend and a dividend yield of 4.21%. Danaos’s payout ratio is 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.