Danaos Co. (NYSE:DAC) Shares Sold by PDT Partners LLC

PDT Partners LLC decreased its holdings in Danaos Co. (NYSE:DAC) by 20.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,982 shares of the shipping company’s stock after selling 2,000 shares during the period. PDT Partners LLC’s holdings in Danaos were worth $692,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. nVerses Capital LLC acquired a new position in shares of Danaos during the 2nd quarter valued at about $37,000. Farther Finance Advisors LLC purchased a new position in Danaos during the third quarter worth about $53,000. Signaturefd LLC boosted its holdings in Danaos by 21.4% in the 2nd quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock valued at $64,000 after purchasing an additional 122 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Danaos in the 2nd quarter valued at approximately $76,000. Finally, Blue Trust Inc. increased its holdings in shares of Danaos by 7,620.0% during the 2nd quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company’s stock worth $107,000 after buying an additional 1,143 shares during the last quarter. 19.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DAC has been the subject of several analyst reports. StockNews.com cut Danaos from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Jefferies Financial Group reissued a “buy” rating and set a $105.00 price objective on shares of Danaos in a research report on Tuesday, November 12th.

Danaos Trading Up 1.2 %

NYSE DAC opened at $80.34 on Tuesday. Danaos Co. has a 52 week low of $66.45 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 $1.56 billion, a PE ratio of 2.78 and a beta of 1.47. The firm has a 50 day moving average of $83.82 and a two-hundred day moving average of $85.38.

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

Danaos Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th will be given a dividend of $0.85 per share. This is a positive change from Danaos’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Monday, November 25th. Danaos’s payout ratio is presently 11.76%.

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.