Aristides Capital LLC Makes New Investment in Danaos Co. (NYSE:DAC)

Aristides Capital LLC purchased a new position in shares of Danaos Co. (NYSE:DAC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,471 shares of the shipping company’s stock, valued at approximately $228,000.

Several other hedge funds have also made changes to their positions in the business. Parallel Advisors LLC grew its holdings in Danaos by 79.3% in the 4th quarter. Parallel Advisors LLC now owns 382 shares of the shipping company’s stock valued at $28,000 after buying an additional 169 shares during the period. nVerses Capital LLC acquired a new stake in shares of Danaos in the second quarter worth approximately $37,000. Scarborough Advisors LLC purchased a new stake in Danaos in the fourth quarter valued at approximately $49,000. Signaturefd LLC increased its position in Danaos by 21.4% during the second quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after purchasing an additional 122 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in Danaos during the second quarter worth approximately $76,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Stock Up 0.1 %

Shares of NYSE DAC opened at $86.83 on Wednesday. The stock has a market capitalization of $1.69 billion, a PE ratio of 2.95 and a beta of 1.47. The company has a quick ratio of 4.04, a current ratio of 4.18 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average of $81.99 and a 200-day moving average of $82.68. Danaos Co. has a 52-week low of $62.37 and a 52-week high of $98.25.

Danaos (NYSE:DAC) last released its quarterly earnings data on Monday, August 5th. The shipping company reported $6.78 EPS for the quarter, missing analysts’ consensus estimates of $7.04 by ($0.26). Danaos had a return on equity of 17.88% and a net margin of 58.15%. The firm had revenue of $246.31 million during the quarter, compared to analysts’ expectations of $238.83 million. During the same quarter last year, the business earned $7.14 earnings per share. On average, analysts anticipate that Danaos Co. will post 28.43 EPS for the current year.

Danaos Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $3.20 annualized dividend and a yield of 3.69%. Danaos’s dividend payout ratio is currently 10.86%.

About Danaos

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.