Janney Montgomery Scott LLC Boosts Holdings in Danaos Co. (NYSE:DAC)

Janney Montgomery Scott LLC raised its position in Danaos Co. (NYSE:DAC) by 2.9% in the 3rd quarter, according to the company in its most recent 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’s holdings in Danaos were worth $2,334,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DAC. Farther Finance Advisors LLC bought a new stake in shares of Danaos during the 3rd quarter valued at about $53,000. U S Global Investors Inc. purchased a new stake in Danaos in the third quarter valued at approximately $296,000. Blue Trust Inc. raised its stake in Danaos by 221.2% in the third quarter. Blue Trust Inc. now owns 3,720 shares of the shipping company’s stock valued at $344,000 after purchasing an additional 2,562 shares in the last quarter. Inspire Advisors LLC lifted its position in Danaos by 144.2% during the third quarter. Inspire Advisors LLC now owns 12,429 shares of the shipping company’s stock valued at $1,078,000 after purchasing an additional 7,340 shares during the last quarter. Finally, nVerses Capital LLC grew its stake in Danaos by 75.0% in the 3rd quarter. nVerses Capital LLC now owns 700 shares of the shipping company’s stock worth $61,000 after buying an additional 300 shares in the last quarter. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com cut shares of Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group restated a “buy” rating and set a $105.00 price target on shares of Danaos in a research report on Tuesday.

Danaos Stock Performance

NYSE:DAC opened at $82.69 on Wednesday. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 2.82 and a beta of 1.47. The business has a 50 day moving average of $82.65 and a 200 day moving average of $85.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.18 and a quick ratio of 4.04. Danaos Co. has a 1-year low of $62.60 and a 1-year high of $98.25.

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.