Gordian Capital Singapore Pte Ltd Decreases Stake in Danaos Co. (NYSE:DAC)

Gordian Capital Singapore Pte Ltd lessened its holdings in shares of Danaos Co. (NYSE:DAC) by 94.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,301 shares of the shipping company’s stock after selling 166,700 shares during the quarter. Gordian Capital Singapore Pte Ltd’s holdings in Danaos were worth $807,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Danaos in the 2nd quarter valued at $111,000. Ballew Advisors Inc purchased a new position in Danaos in the second quarter valued at about $241,000. Blue Trust Inc. lifted its stake in shares of Danaos by 7,620.0% during the second quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company’s stock worth $107,000 after purchasing an additional 1,143 shares in the last quarter. TrueMark Investments LLC purchased a new stake in shares of Danaos in the second quarter worth about $1,734,000. Finally, Signaturefd LLC boosted its position in shares of Danaos by 21.4% in the second quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Danaos Stock Up 0.3 %

Shares of NYSE DAC opened at $81.37 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. Danaos Co. has a 1 year low of $66.45 and a 1 year high of $98.25. The stock’s 50-day simple moving average is $83.50 and its 200-day simple moving average is $85.25. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 2.81 and a beta of 1.49.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Tuesday, November 12th. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.86 by ($0.36). Danaos had a return on equity of 16.68% and a net margin of 56.16%. The business had revenue of $256.18 million for the quarter, compared to analysts’ expectations of $251.16 million. During the same quarter in the prior year, the firm earned $7.26 earnings per share. As a group, equities analysts anticipate that Danaos Co. will post 27.56 earnings per share for the current fiscal year.

Danaos Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.18%. This is an increase from Danaos’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Monday, November 25th. Danaos’s dividend payout ratio is 11.76%.

Analyst Upgrades and Downgrades

DAC has been the subject of a number of analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $105.00 price target on shares of Danaos in a report on Tuesday, November 12th. StockNews.com downgraded shares of Danaos from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

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.