Aquatic Capital Management LLC Makes New $794,000 Investment in Danaos Co. (NYSE:DAC)

Aquatic Capital Management LLC acquired a new stake in Danaos Co. (NYSE:DAC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 9,914 shares of the shipping company's stock, valued at approximately $794,000. Aquatic Capital Management LLC owned about 0.05% of Danaos at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its stake in Danaos by 18.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 314,787 shares of the shipping company's stock valued at $25,205,000 after buying an additional 48,155 shares during the last quarter. TrueMark Investments LLC grew its position in shares of Danaos by 252.9% in the fourth quarter. TrueMark Investments LLC now owns 65,485 shares of the shipping company's stock valued at $5,243,000 after purchasing an additional 46,930 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Danaos by 71.8% in the fourth quarter. JPMorgan Chase & Co. now owns 51,291 shares of the shipping company's stock worth $4,107,000 after purchasing an additional 21,430 shares during the period. Sei Investments Co. boosted its stake in Danaos by 12.8% during the 4th quarter. Sei Investments Co. now owns 32,629 shares of the shipping company's stock valued at $2,613,000 after purchasing an additional 3,696 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Danaos by 31.5% in the 4th quarter. Wells Fargo & Company MN now owns 28,382 shares of the shipping company's stock valued at $2,273,000 after buying an additional 6,804 shares during the last quarter. 19.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DAC shares. StockNews.com upgraded shares of Danaos from a "hold" rating to a "buy" rating in a research note on Tuesday. Jefferies Financial Group restated a "buy" rating and set a $105.00 price target on shares of Danaos in a research note on Tuesday, February 11th.

Danaos Price Performance

Shares of DAC traded down $0.27 during mid-day trading on Tuesday, reaching $81.75. The company had a trading volume of 5,820 shares, compared to its average volume of 109,696. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78. The company has a market capitalization of $1.55 billion, a P/E ratio of 3.16 and a beta of 1.34. Danaos Co. has a twelve month low of $65.40 and a twelve month high of $98.25. The company's 50-day moving average is $77.79 and its 200-day moving average is $79.84.

Danaos (NYSE:DAC - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The shipping company reported $6.50 earnings per share (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%. On average, equities analysts anticipate that Danaos Co. will post 29.21 EPS for the current year.

Danaos announced that its board has authorized a stock repurchase plan on Monday, April 14th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the shipping company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Danaos Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $3.40 dividend on an annualized basis and a yield of 4.16%. Danaos's dividend payout ratio (DPR) is presently 13.12%.

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.