JPMorgan Chase & Co. Boosts Stock Holdings in Danaos Corporation $DAC

Key Points

• JPMorgan Chase & Co. raised its Danaos stake by 18.5% in Q3 to 98,179 shares (about 0.52% of the company), worth roughly $8.82 million.
• Several other institutions also increased positions—Millennium Management boosted its holding to 133,401 shares (up 161.8%), Verition, Qube, Public Employees Retirement System of Ohio and Bank of America added stakes—bringing institutional ownership to 19.01%.
• Danaos reported an EPS beat ($7.14 vs. $6.46) with a 47.45% net margin, trades at a P/E of 4.12 with a $2.01 billion market cap, and pays a $0.90 quarterly dividend (3.3% yield).

JPMorgan Chase & Co. lifted its position in Danaos Corporation (NYSE:DAC - Free Report) by 18.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,179 shares of the shipping company's stock after acquiring an additional 15,345 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.52% of Danaos worth $8,817,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DAC. Verition Fund Management LLC boosted its holdings in Danaos by 364.3% during the third quarter. Verition Fund Management LLC now owns 18,197 shares of the shipping company's stock worth $1,634,000 after purchasing an additional 14,278 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Danaos in the 3rd quarter valued at about $1,329,000. Public Employees Retirement System of Ohio increased its stake in Danaos by 557.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,149 shares of the shipping company's stock valued at $193,000 after buying an additional 1,822 shares during the last quarter. Millennium Management LLC lifted its position in shares of Danaos by 161.8% during the 3rd quarter. Millennium Management LLC now owns 133,401 shares of the shipping company's stock worth $11,981,000 after buying an additional 82,450 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Danaos by 20.3% in the 3rd quarter. Bank of America Corp DE now owns 69,270 shares of the shipping company's stock worth $6,221,000 after buying an additional 11,672 shares during the last quarter. Hedge funds and other institutional investors own 19.01% of the company's stock.

Danaos Stock Performance

Shares of DAC stock opened at $110.36 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.23 and a current ratio of 3.28. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 4.12 and a beta of 0.98. Danaos Corporation has a 52 week low of $65.40 and a 52 week high of $118.82. The firm's 50-day simple moving average is $108.24 and its two-hundred day simple moving average is $98.45.

Danaos (NYSE:DAC - Get Free Report) last released its earnings results on Monday, February 9th. The shipping company reported $7.14 earnings per share for the quarter, beating analysts' consensus estimates of $6.46 by $0.68. Danaos had a net margin of 47.45% and a return on equity of 13.31%. The firm had revenue of $266.27 million during the quarter, compared to the consensus estimate of $253.00 million. As a group, equities analysts forecast that Danaos Corporation will post 29.21 earnings per share for the current year.

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were paid a $0.90 dividend. The ex-dividend date was Monday, February 23rd. This represents a $3.60 annualized dividend and a yield of 3.3%. Danaos's dividend payout ratio is presently 13.44%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Danaos in a report on Wednesday, January 21st. Freedom Capital raised Danaos to a "hold" rating in a research report on Tuesday, March 10th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $105.00.

Danaos 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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