Goldman Sachs Group Inc. Has $3.61 Million Holdings in Danaos Corporation $DAC

Key Points

• Goldman Sachs Group Inc. significantly increased its stake in Danaos Corporation by acquiring 29,921 shares, raising its total holdings by 183.6% during the first quarter.
• A number of institutional investors are showing growing interest, with hedge funds and institutions now owning 19.01% of Danaos' stock.
• Danaos recently reported earnings of $6.36 per share for the last quarter, missing expectations but showing revenue growth, alongside announcing a quarterly dividend of $0.85 per share.

Goldman Sachs Group Inc. boosted its holdings in shares of Danaos Corporation (NYSE:DAC - Free Report) by 183.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 46,215 shares of the shipping company's stock after acquiring an additional 29,921 shares during the period. Goldman Sachs Group Inc. owned 0.24% of Danaos worth $3,606,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Danaos by 7,700.0% in the 1st quarter. GAMMA Investing LLC now owns 390 shares of the shipping company's stock worth $30,000 after purchasing an additional 385 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Danaos during the first quarter worth about $223,000. Millburn Ridgefield LLC DE acquired a new position in shares of Danaos during the 1st quarter worth about $293,000. National Bank of Canada FI increased its stake in shares of Danaos by 3.2% in the 1st quarter. National Bank of Canada FI now owns 3,914 shares of the shipping company's stock valued at $305,000 after acquiring an additional 120 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Danaos in the 1st quarter valued at approximately $335,000. Institutional investors own 19.01% of the company's stock.

Wall Street Analyst Weigh In

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

Danaos Stock Up 0.2%

Shares of NYSE:DAC traded up $0.20 during mid-day trading on Monday, reaching $92.80. 41,351 shares of the stock were exchanged, compared to its average volume of 71,870. The stock's 50 day simple moving average is $92.91 and its 200-day simple moving average is $85.94. Danaos Corporation has a one year low of $65.40 and a one year high of $96.47. The company has a market cap of $1.76 billion, a P/E ratio of 3.83 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 results on Monday, August 4th. The shipping company reported $6.36 earnings per share for the quarter, missing analysts' consensus estimates of $6.52 by ($0.16). Danaos had a return on equity of 13.88% and a net margin of 44.62%.The firm had revenue of $262.15 million for the quarter, compared to analyst estimates of $247.26 million. As a group, equities research analysts predict that Danaos Corporation will post 29.21 EPS for the current year.

Danaos Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 19th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $3.40 annualized dividend and a yield of 3.7%. Danaos's payout ratio is 14.02%.

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.