Danaos Co. (NYSE:DAC) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd reduced its position in Danaos Co. (NYSE:DAC) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,918 shares of the shipping company’s stock after selling 247 shares during the quarter. Quadrature Capital Ltd owned about 0.13% of Danaos worth $1,797,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Blue Trust Inc. purchased a new stake in shares of Danaos during the fourth quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Danaos by 14.2% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,600 shares of the shipping company’s stock worth $118,000 after purchasing an additional 199 shares during the last quarter. DGS Capital Management LLC raised its stake in shares of Danaos by 30.0% during the fourth quarter. DGS Capital Management LLC now owns 12,939 shares of the shipping company’s stock worth $958,000 after purchasing an additional 2,989 shares during the last quarter. Significant Wealth Partners LLC purchased a new stake in shares of Danaos during the fourth quarter worth approximately $283,000. Finally, Atria Wealth Solutions Inc. raised its stake in shares of Danaos by 4.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,911 shares of the shipping company’s stock worth $290,000 after purchasing an additional 150 shares during the last quarter. 19.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upped their price target on Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th.

Danaos Price Performance

NYSE:DAC traded down $0.26 during trading hours on Friday, hitting $83.84. The company’s stock had a trading volume of 108,325 shares, compared to its average volume of 92,880. The business’s 50-day moving average is $90.30 and its two-hundred day moving average is $80.08. The company has a market capitalization of $1.63 billion, a PE ratio of 2.85 and a beta of 1.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.75 and a current ratio of 3.89. Danaos Co. has a 52-week low of $62.37 and a 52-week high of $98.25.

Danaos (NYSE:DAC) last released its quarterly earnings data on Tuesday, May 28th. The shipping company reported $7.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.71 by ($0.56). The business had revenue of $253.45 million during the quarter. Danaos had a return on equity of 18.99% and a net margin of 59.04%. During the same period last year, the firm earned $7.14 EPS. As a group, research analysts anticipate that Danaos Co. will post 29.24 EPS for the current fiscal year.

Danaos Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 11th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Tuesday, June 11th. Danaos’s dividend payout ratio is currently 10.86%.

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.