Danaos Corporation $DAC Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has significantly reduced its stake in Danaos Corporation (DAC) by 47.8%, now holding 345,206 shares valued at approximately $26.93 million.
• Several large investors, including Goldman Sachs and No Street GP LP, have increased their holdings in Danaos, reflecting growing confidence in the shipping company's performance.
• Danaos announced a quarterly dividend of $0.85 per share, translating to an annual yield of 3.6% and a low dividend payout ratio of 14.02%.

Acadian Asset Management LLC cut its holdings in Danaos Corporation (NYSE:DAC - Free Report) by 47.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,206 shares of the shipping company's stock after selling 315,804 shares during the quarter. Acadian Asset Management LLC owned 1.82% of Danaos worth $26,927,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in Danaos by 183.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company's stock worth $3,606,000 after buying an additional 29,921 shares in the last quarter. No Street GP LP lifted its holdings in shares of Danaos by 11.1% in the 4th quarter. No Street GP LP now owns 250,000 shares of the shipping company's stock valued at $20,018,000 after acquiring an additional 25,000 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in Danaos by 20.4% in the fourth quarter. Voloridge Investment Management LLC now owns 103,937 shares of the shipping company's stock worth $8,322,000 after purchasing an additional 17,643 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Danaos by 36.4% during the fourth quarter. Lazard Asset Management LLC now owns 45,504 shares of the shipping company's stock valued at $3,643,000 after acquiring an additional 12,147 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in Danaos by 119.0% during the first quarter. XTX Topco Ltd now owns 20,207 shares of the shipping company's stock valued at $1,577,000 after buying an additional 10,981 shares during the period. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

Danaos Trading Up 0.2%

Shares of Danaos stock traded up $0.15 during trading hours on Tuesday, hitting $95.16. The company's stock had a trading volume of 12,163 shares, compared to its average volume of 90,769. Danaos Corporation has a 1-year low of $65.40 and a 1-year high of $96.47. The business has a fifty day moving average of $92.42 and a 200 day moving average of $85.41. The company has a market capitalization of $1.81 billion, a PE ratio of 3.92 and a beta of 1.28. The company has a quick ratio of 5.21, a current ratio of 5.36 and a debt-to-equity ratio of 0.20.

Danaos (NYSE:DAC - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The shipping company reported $6.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.52 by ($0.16). The business had revenue of $262.15 million during the quarter, compared to analyst estimates of $247.26 million. Danaos had a return on equity of 13.88% and a net margin of 44.62%. As a group, equities analysts forecast that Danaos Corporation will post 29.21 EPS for the current year.

Danaos Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 19th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Danaos's dividend payout ratio is 14.02%.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a "buy" rating and set a $105.00 price target on shares of Danaos in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $105.00.

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.