2,358 Shares in Danaos Co. (NYSE:DAC) Bought by Verition Fund Management LLC

Verition Fund Management LLC acquired a new position in Danaos Co. (NYSE:DAC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,358 shares of the shipping company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DAC. nVerses Capital LLC bought a new position in shares of Danaos in the 2nd quarter worth about $37,000. Farther Finance Advisors LLC bought a new position in shares of Danaos during the third quarter valued at approximately $53,000. Signaturefd LLC lifted its holdings in shares of Danaos by 21.4% during the second 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. Blue Trust Inc. boosted its position in shares of Danaos by 7,620.0% in the 2nd quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company’s stock worth $107,000 after purchasing an additional 1,143 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Danaos in the 2nd quarter worth approximately $111,000. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on DAC. Jefferies Financial Group reissued a “buy” rating and issued a $105.00 target price on shares of Danaos in a report on Tuesday, November 12th. StockNews.com lowered Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

Danaos Stock Performance

Shares of DAC opened at $79.21 on Monday. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 2.74 and a beta of 1.49. The business’s fifty day simple moving average is $82.82 and its two-hundred day simple moving average is $84.96. Danaos Co. has a 12 month low of $67.79 and a 12 month high of $98.25. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19.

Danaos (NYSE:DAC) last released its quarterly earnings data on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate 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 net margin of 56.16% and a return on equity of 16.68%. During the same period last year, the business earned $7.26 earnings per share. Research analysts anticipate that Danaos Co. will post 27.56 earnings per share for the current fiscal year.

Danaos Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 25th were given a dividend of $0.85 per share. This is an increase from Danaos’s previous quarterly dividend of $0.80. The ex-dividend date was Monday, November 25th. This represents a $3.40 dividend on an annualized basis and a yield of 4.29%. Danaos’s dividend payout ratio is 11.76%.

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.