26,400 Shares in Danaos Corporation $DAC Purchased by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new position in Danaos Corporation, purchasing 26,400 shares valued at approximately $2.28 million, representing 0.14% ownership of the company.
• Analysts have reiterated a "buy" rating for Danaos, with a price target set at $105.00, while the company reported a net margin of 44.62% and revenues exceeding expectations for the latest quarter.
• Danaos recently declared a quarterly dividend of $0.85 per share, translating to an annualized yield of 3.7%, with a payout ratio of 14.02%.

Kingstone Capital Partners Texas LLC purchased a new stake in Danaos Corporation (NYSE:DAC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 26,400 shares of the shipping company's stock, valued at approximately $2,277,000. Kingstone Capital Partners Texas LLC owned 0.14% of Danaos at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC increased its position in shares of Danaos by 7,700.0% during 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 in the last quarter. Goldman Sachs Group Inc. boosted its stake in Danaos by 183.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company's stock worth $3,606,000 after acquiring an additional 29,921 shares during the last quarter. Northern Trust Corp lifted its holdings in Danaos by 103.1% during the fourth quarter. Northern Trust Corp now owns 5,060 shares of the shipping company's stock worth $405,000 after acquiring an additional 2,569 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Danaos by 119.0% in 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. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in Danaos by 256.2% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,200 shares of the shipping company's stock worth $406,000 after purchasing an additional 3,740 shares in the last quarter. 19.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Danaos Trading Up 0.2%

Shares of DAC traded up $0.20 during mid-day trading on Monday, reaching $92.80. 41,351 shares of the company were exchanged, compared to its average volume of 71,870. The stock has a market capitalization of $1.76 billion, a PE ratio of 3.83 and a beta of 1.28. The business has a 50 day simple moving average of $92.91 and a two-hundred day simple moving average of $85.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 5.21 and a current ratio of 5.36. Danaos Corporation has a 52 week low of $65.40 and a 52 week high of $96.47.

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

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Tuesday, August 19th were paid 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 dividend payout ratio (DPR) is currently 14.02%.

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.