Redhawk Wealth Advisors Inc. Grows Holdings in Danaos Co. (NYSE:DAC)

Redhawk Wealth Advisors Inc. lifted its holdings in Danaos Co. (NYSE:DAC - Free Report) by 34.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,409 shares of the shipping company's stock after acquiring an additional 3,151 shares during the quarter. Redhawk Wealth Advisors Inc. owned 0.07% of Danaos worth $968,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisory Research Inc. grew its position in Danaos by 0.9% during the fourth quarter. Advisory Research Inc. now owns 23,116 shares of the shipping company's stock valued at $1,851,000 after buying an additional 207 shares during the period. GAMMA Investing LLC lifted its stake in shares of Danaos by 7,700.0% in the first quarter. GAMMA Investing LLC now owns 390 shares of the shipping company's stock worth $30,000 after buying an additional 385 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Danaos in the fourth quarter worth about $32,000. LPL Financial LLC lifted its stake in shares of Danaos by 19.0% in the fourth quarter. LPL Financial LLC now owns 3,995 shares of the shipping company's stock worth $320,000 after buying an additional 637 shares in the last quarter. Finally, PFG Advisors raised its stake in Danaos by 12.5% during the fourth quarter. PFG Advisors now owns 5,856 shares of the shipping company's stock worth $469,000 after purchasing an additional 651 shares during the period. Institutional investors and hedge funds own 19.01% of the company's stock.

Analyst Ratings Changes

DAC has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Danaos from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Jefferies Financial Group boosted their price target on shares of Danaos from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th.

Danaos Stock Up 2.9%

Shares of NYSE:DAC traded up $2.49 during trading on Friday, hitting $89.24. 87,618 shares of the company were exchanged, compared to its average volume of 104,730. The stock has a market capitalization of $1.69 billion, a P/E ratio of 3.44 and a beta of 1.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78. Danaos Co. has a 12-month low of $65.40 and a 12-month high of $94.63. The firm's 50 day moving average price is $81.70 and its 200-day moving average price is $80.29.

Danaos (NYSE:DAC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The shipping company reported $6.04 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.29). The company had revenue of $253.31 million for the quarter, compared to analysts' expectations of $242.00 million. Danaos had a return on equity of 16.03% and a net margin of 49.81%. During the same quarter in the prior year, the firm posted $7.15 EPS. On average, research analysts predict that Danaos Co. will post 29.21 earnings per share for the current fiscal year.

Danaos Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.85 per share. The ex-dividend date was Tuesday, May 27th. This represents a $3.40 annualized dividend and a dividend yield of 3.81%. Danaos's dividend payout ratio is presently 13.96%.

Danaos announced that its Board of Directors has authorized a stock repurchase program on Monday, April 14th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the shipping company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

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.