Allianz Asset Management GmbH Makes New $1.72 Million Investment in Danaos Corporation $DAC

Key Points

• Allianz Asset Management acquired 14,025 Danaos shares worth approximately $1.72 million, representing about 0.08% of the company. Institutional investors and hedge funds collectively own 19.01% of Danaos.
• Analyst sentiment remains positive: Freedom Capital upgraded Danaos to “strong buy,” Weiss Ratings raised its rating to “buy (a-),” and the stock holds an average “Strong Buy” rating from three analysts.
• Danaos exceeded quarterly expectations, reporting $7.29 in EPS and $274.37 million in revenue. The company also declared a $0.90 quarterly dividend, equivalent to a $3.60 annualized payout and a 2.3% yield.

Allianz Asset Management GmbH acquired a new position in shares of Danaos Corporation (NYSE:DAC - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,025 shares of the shipping company's stock, valued at approximately $1,716,000. Allianz Asset Management GmbH owned approximately 0.08% of Danaos at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ion Asset Management Ltd. boosted its position in Danaos by 15.5% during the second quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company's stock worth $56,428,000 after acquiring an additional 87,614 shares during the last quarter. ION Fund Management Ltd acquired a new stake in shares of Danaos during the fourth quarter worth $39,538,000. Millennium Management LLC boosted its holdings in shares of Danaos by 161.8% during the third quarter. Millennium Management LLC now owns 133,401 shares of the shipping company's stock worth $11,981,000 after purchasing an additional 82,450 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Danaos by 13.8% in the fourth quarter. JPMorgan Chase & Co. now owns 111,750 shares of the shipping company's stock valued at $10,525,000 after purchasing an additional 13,571 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Danaos by 58.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 106,089 shares of the shipping company's stock valued at $9,991,000 after purchasing an additional 38,958 shares during the last quarter. Institutional investors and hedge funds own 19.01% of the company's stock.

Analysts Set New Price Targets

DAC has been the topic of several recent analyst reports. Freedom Capital upgraded Danaos from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Danaos from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. Three analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has an average rating of "Strong Buy".

Danaos Trading Up 1.0%

NYSE DAC opened at $154.53 on Thursday. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 5.23 and a beta of 0.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 9.15 and a current ratio of 9.30. Danaos Corporation has a one year low of $83.56 and a one year high of $155.89. The company's 50 day moving average price is $140.21 and its 200 day moving average price is $127.85.

Danaos (NYSE:DAC - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The shipping company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.80 by $0.49. Danaos had a net margin of 51.26% and a return on equity of 13.20%. The company had revenue of $274.37 million during the quarter, compared to the consensus estimate of $258.27 million.

Danaos Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Tuesday, July 21st were given a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, July 21st. This represents a $3.60 annualized dividend and a yield of 2.3%. Danaos's dividend payout ratio (DPR) is 12.18%.

Danaos Company Profile

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company's core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.

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