400 Shares in Danaos Co. (NYSE:DAC) Bought by Summit Securities Group LLC

Summit Securities Group LLC purchased a new stake in shares of Danaos Co. (NYSE:DAC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 400 shares of the shipping company’s stock, valued at approximately $32,000.

A number of other large investors have also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its position in shares of Danaos by 18.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 314,787 shares of the shipping company’s stock valued at $25,205,000 after purchasing an additional 48,155 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Danaos in the fourth quarter valued at approximately $87,000. JPMorgan Chase & Co. boosted its holdings in shares of Danaos by 71.8% during the 4th quarter. JPMorgan Chase & Co. now owns 51,291 shares of the shipping company’s stock worth $4,107,000 after buying an additional 21,430 shares in the last quarter. TrueMark Investments LLC grew its position in shares of Danaos by 252.9% during the 4th quarter. TrueMark Investments LLC now owns 65,485 shares of the shipping company’s stock worth $5,243,000 after buying an additional 46,930 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Danaos by 19.0% in the 4th quarter. LPL Financial LLC now owns 3,995 shares of the shipping company’s stock valued at $320,000 after acquiring an additional 637 shares in the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. StockNews.com upgraded shares of Danaos from a “hold” rating to a “buy” rating in a report on Monday, March 10th. Jefferies Financial Group restated a “buy” rating and issued a $105.00 target price on shares of Danaos in a research note on Tuesday, February 11th.

Danaos Trading Up 0.3 %

NYSE DAC opened at $79.34 on Monday. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19. Danaos Co. has a 52 week low of $71.32 and a 52 week high of $98.25. The business has a 50 day moving average price of $80.38 and a 200-day moving average price of $81.38. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 3.06 and a beta of 1.41.

Danaos (NYSE:DAC) last announced its quarterly earnings results on Monday, February 10th. The shipping company reported $6.50 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%. As a group, equities analysts expect that Danaos Co. will post 29.21 earnings per share for the current fiscal year.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.85 dividend. The ex-dividend date was Monday, February 24th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.29%. Danaos’s dividend payout ratio is presently 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.