Two Sigma Advisers LP Has $2.03 Million Stock Holdings in Danaos Co. (NYSE:DAC)

Two Sigma Advisers LP cut its holdings in Danaos Co. (NYSE:DAC - Free Report) by 51.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,300 shares of the shipping company's stock after selling 27,000 shares during the quarter. Two Sigma Advisers LP owned about 0.13% of Danaos worth $2,026,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP lifted its stake in shares of Danaos by 340.1% in the 4th quarter. Allworth Financial LP now owns 1,941 shares of the shipping company's stock valued at $149,000 after purchasing an additional 1,500 shares during the period. JPMorgan Chase & Co. lifted its stake in Danaos by 71.8% in the fourth quarter. JPMorgan Chase & Co. now owns 51,291 shares of the shipping company's stock valued at $4,107,000 after buying an additional 21,430 shares during the period. Sei Investments Co. boosted its holdings in Danaos by 12.8% during the fourth quarter. Sei Investments Co. now owns 32,629 shares of the shipping company's stock worth $2,613,000 after buying an additional 3,696 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Danaos by 31.5% during the 4th quarter. Wells Fargo & Company MN now owns 28,382 shares of the shipping company's stock worth $2,273,000 after buying an additional 6,804 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Danaos by 19.0% in the 4th quarter. LPL Financial LLC now owns 3,995 shares of the shipping company's stock valued at $320,000 after acquiring an additional 637 shares during the last quarter. Institutional investors and hedge funds own 19.01% of the company's stock.

Danaos Trading Up 0.9%

Danaos stock traded up $0.74 during mid-day trading on Friday, hitting $85.07. 96,999 shares of the company's stock were exchanged, compared to its average volume of 106,435. The company's 50 day simple moving average is $79.48 and its 200-day simple moving average is $80.17. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.62 billion, a P/E ratio of 3.28 and a beta of 1.34. Danaos Co. has a fifty-two week low of $65.40 and a fifty-two week high of $98.25.

Danaos (NYSE:DAC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The shipping company reported $6.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.29). Danaos had a return on equity of 16.03% and a net margin of 49.81%. The business had revenue of $253.31 million during the quarter, compared to the consensus estimate of $242.00 million. During the same quarter last year, the company earned $7.15 earnings per share. On average, equities analysts anticipate that Danaos Co. will post 29.21 earnings per share for the current year.

Danaos announced that its Board of Directors has approved a stock repurchase program on Monday, April 14th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the shipping company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.85 per share. The ex-dividend date is Tuesday, May 27th. This represents a $3.40 dividend on an annualized basis and a yield of 4.00%. Danaos's payout ratio is 13.96%.

Analysts Set New Price Targets

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

About Danaos

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.