O Shaughnessy Asset Management LLC Sells 4,023 Shares of Danaos Co. (NYSE:DAC)

O Shaughnessy Asset Management LLC reduced its position in shares of Danaos Co. (NYSE:DAC) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,373 shares of the shipping company’s stock after selling 4,023 shares during the period. O Shaughnessy Asset Management LLC owned about 0.12% of Danaos worth $1,791,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in Danaos during the 4th quarter worth approximately $32,000. New Age Alpha Advisors LLC acquired a new position in Danaos during the fourth quarter worth $87,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Danaos by 37.7% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company’s stock valued at $117,000 after purchasing an additional 400 shares in the last quarter. Allworth Financial LP increased its stake in Danaos by 340.1% in the 4th quarter. Allworth Financial LP now owns 1,941 shares of the shipping company’s stock valued at $149,000 after buying an additional 1,500 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in Danaos by 24.1% during the 4th quarter. Avior Wealth Management LLC now owns 2,321 shares of the shipping company’s stock worth $186,000 after buying an additional 451 shares in the last quarter. 19.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DAC has been the subject of several analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $105.00 price objective on shares of Danaos in a report 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 Stock Performance

NYSE DAC opened at $69.15 on Friday. The firm has a market capitalization of $1.31 billion, a P/E ratio of 2.67 and a beta of 1.32. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average price is $80.25 and its two-hundred day moving average price is $81.24. Danaos Co. has a 1 year low of $67.75 and a 1 year high of $98.25.

Danaos (NYSE:DAC) last issued its earnings results on Monday, February 10th. The shipping company reported $6.50 earnings per share (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, research analysts anticipate that Danaos Co. will post 29.21 EPS for the current year.

Danaos Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Monday, February 24th. Danaos’s payout ratio is presently 13.12%.

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.