Commonwealth Equity Services LLC Sells 2,314 Shares of Danaos Co. (NYSE:DAC)

Commonwealth Equity Services LLC lessened its stake in shares of Danaos Co. (NYSE:DAC) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,545 shares of the shipping company’s stock after selling 2,314 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.40% of Danaos worth $6,209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DAC. State Street Corp lifted its holdings in shares of Danaos by 2.3% during the 3rd quarter. State Street Corp now owns 24,098 shares of the shipping company’s stock valued at $2,090,000 after purchasing an additional 547 shares during the last quarter. DGS Capital Management LLC lifted its holdings in shares of Danaos by 71.6% during the 4th quarter. DGS Capital Management LLC now owns 23,945 shares of the shipping company’s stock valued at $1,917,000 after purchasing an additional 9,994 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Danaos by 5.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,258 shares of the shipping company’s stock valued at $741,000 after purchasing an additional 485 shares during the last quarter. Corsair Capital Management L.P. purchased a new position in Danaos in the 3rd quarter worth $607,000. Finally, PFG Advisors raised its stake in Danaos by 12.5% in the 4th quarter. PFG Advisors now owns 5,856 shares of the shipping company’s stock worth $469,000 after acquiring an additional 651 shares during the last quarter. Institutional investors own 19.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DAC. Jefferies Financial Group restated a “buy” rating and issued a $105.00 target price on shares of Danaos in a research note on Tuesday, February 11th. StockNews.com upgraded Danaos from a “hold” rating to a “buy” rating in a research note on Monday, March 10th.

Danaos Price Performance

NYSE:DAC opened at $81.00 on Friday. Danaos Co. has a 52 week low of $71.32 and a 52 week high of $98.25. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.54 billion, a PE ratio of 3.13 and a beta of 1.41. The stock’s 50-day moving average price is $80.25 and its 200-day moving average price is $81.26.

Danaos (NYSE:DAC) last posted its 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 net margin of 49.81% and a return on equity of 16.03%. As a group, equities analysts expect that Danaos Co. will post 29.21 EPS for the current fiscal year.

Danaos Dividend Announcement

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

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.