Janney Montgomery Scott LLC Acquires 766 Shares of Danaos Co. (NYSE:DAC)

Janney Montgomery Scott LLC lifted its holdings in shares of Danaos Co. (NYSE:DAC) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,908 shares of the shipping company’s stock after purchasing an additional 766 shares during the period. Janney Montgomery Scott LLC owned about 0.14% of Danaos worth $2,334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DAC. nVerses Capital LLC bought a new position in Danaos during the second quarter valued at $37,000. Farther Finance Advisors LLC bought a new position in shares of Danaos during the 3rd quarter worth $53,000. Signaturefd LLC grew its stake in shares of Danaos by 21.4% during the 2nd quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after acquiring an additional 122 shares during the period. Mather Group LLC. purchased a new stake in Danaos in the 2nd quarter worth about $76,000. Finally, Blue Trust Inc. raised its stake in Danaos by 7,620.0% in the 2nd quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company’s stock valued at $107,000 after acquiring an additional 1,143 shares during the period. 19.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DAC shares. Jefferies Financial Group reiterated a “buy” rating and set a $105.00 target price on shares of Danaos in a research report on Tuesday. StockNews.com downgraded shares of Danaos from a “buy” rating to a “hold” rating in a report on Tuesday.

Danaos Price Performance

Shares of NYSE DAC opened at $82.69 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.04 and a current ratio of 4.18. Danaos Co. has a fifty-two week low of $62.60 and a fifty-two week high of $98.25. The stock has a market cap of $1.61 billion, a PE ratio of 2.82 and a beta of 1.47. The stock has a fifty day moving average of $82.65 and a 200-day moving average of $85.08.

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.