Harel Insurance Investments & Financial Services Ltd. Increases Holdings in Danaos Co. (NYSE:DAC)

Harel Insurance Investments & Financial Services Ltd. boosted its position in Danaos Co. (NYSE:DAC) by 37.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,460 shares of the shipping company’s stock after buying an additional 400 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Danaos were worth $117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DAC. Oppenheimer & Co. Inc. acquired a new stake in Danaos in the third quarter valued at $935,000. Corsair Capital Management L.P. purchased a new stake in shares of Danaos in the 3rd quarter worth about $607,000. Gordian Capital Singapore Pte Ltd grew its stake in Danaos by 17,600,000.0% in the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock valued at $16,255,000 after acquiring an additional 176,000 shares during the last quarter. Verition Fund Management LLC purchased a new position in Danaos during the 3rd quarter valued at about $205,000. Finally, State Street Corp lifted its holdings in shares of Danaos by 2.3% in the third 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 in the last quarter. 19.01% of the stock is owned by institutional investors and hedge funds.

Danaos Stock Performance

NYSE:DAC opened at $77.39 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78. The firm has a market cap of $1.50 billion, a PE ratio of 2.68 and a beta of 1.47. The firm has a 50 day simple moving average of $79.92 and a 200-day simple moving average of $82.09. Danaos Co. has a 1-year low of $69.33 and a 1-year high of $98.25.

Danaos (NYSE:DAC) last issued its quarterly earnings results on Tuesday, November 12th. The shipping company reported $6.50 earnings per share for the quarter, missing analysts’ consensus estimates of $6.86 by ($0.36). The business had revenue of $256.18 million for the quarter, compared to analysts’ expectations of $251.16 million. Danaos had a return on equity of 16.68% and a net margin of 56.16%. During the same period in the prior year, the company earned $7.26 EPS. On average, equities analysts expect that Danaos Co. will post 26.99 EPS for the current year.

Danaos Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.39%. This is a positive change 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 (DPR) is presently 11.76%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and set a $105.00 price objective on shares of Danaos in a research note on Tuesday, November 12th. StockNews.com downgraded Danaos from a “buy” rating to a “hold” rating in a research report 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.