XTX Topco Ltd Buys 5,182 Shares of Danaos Co. (NYSE:DAC)

XTX Topco Ltd lifted its position in shares of Danaos Co. (NYSE:DAC) by 128.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,226 shares of the shipping company’s stock after purchasing an additional 5,182 shares during the period. XTX Topco Ltd’s holdings in Danaos were worth $739,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Danaos by 37.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company’s stock worth $117,000 after purchasing an additional 400 shares during the period. Summit Securities Group LLC bought a new stake in Danaos in the fourth quarter worth about $32,000. Avior Wealth Management LLC boosted its stake in Danaos by 24.1% in the fourth quarter. Avior Wealth Management LLC now owns 2,321 shares of the shipping company’s stock valued at $186,000 after acquiring an additional 451 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Danaos by 18.1% during the 4th quarter. Ballentine Partners LLC now owns 3,053 shares of the shipping company’s stock valued at $244,000 after acquiring an additional 467 shares during the period. Finally, Redhawk Wealth Advisors Inc. increased its stake in shares of Danaos by 5.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,258 shares of the shipping company’s stock worth $741,000 after purchasing an additional 485 shares during the last quarter. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DAC has been the subject of a number of recent research reports. Jefferies Financial Group reissued a “buy” rating and issued a $105.00 target price on shares of Danaos in a research 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 $77.03 on Friday. The firm has a market cap of $1.46 billion, a P/E ratio of 2.97 and a beta of 1.32. 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 company’s 50 day moving average is $78.71 and its 200-day moving average is $80.41. Danaos Co. has a 12-month low of $65.40 and a 12-month 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%. Sell-side analysts predict that Danaos Co. will post 29.21 earnings per share for the current year.

Danaos declared that its board has authorized a share buyback plan on Monday, April 14th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the shipping company to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Danaos Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a $3.40 dividend on an annualized basis and a yield of 4.41%. Danaos’s dividend payout ratio (DPR) is 13.12%.

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.