Danaos Corporation $DAC Shares Purchased by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its position in Danaos Corporation by 43.6%, owning 20,318 shares worth approximately $1.59 million after acquiring an additional 6,170 shares in the first quarter.
• Despite a reported EPS of $6.36, Danaos Corporation missed earnings expectations by $0.16, while generating revenue of $262.15 million, exceeding analyst forecasts.
• The company announced a quarterly dividend of $0.85 per share, resulting in an annualized yield of 3.7%, with an ex-dividend date of August 19th.

Vident Advisory LLC lifted its holdings in Danaos Corporation (NYSE:DAC - Free Report) by 43.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,318 shares of the shipping company's stock after acquiring an additional 6,170 shares during the period. Vident Advisory LLC owned approximately 0.11% of Danaos worth $1,586,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. No Street GP LP lifted its position in shares of Danaos by 11.1% during the fourth quarter. No Street GP LP now owns 250,000 shares of the shipping company's stock worth $20,018,000 after purchasing an additional 25,000 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of Danaos by 20.4% during the fourth quarter. Voloridge Investment Management LLC now owns 103,937 shares of the shipping company's stock worth $8,322,000 after purchasing an additional 17,643 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Danaos by 36.4% during the fourth quarter. Lazard Asset Management LLC now owns 45,504 shares of the shipping company's stock worth $3,643,000 after purchasing an additional 12,147 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Danaos by 119.0% during the first quarter. XTX Topco Ltd now owns 20,207 shares of the shipping company's stock worth $1,577,000 after purchasing an additional 10,981 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. grew its position in shares of Danaos by 34.0% during the first quarter. Redhawk Wealth Advisors Inc. now owns 12,409 shares of the shipping company's stock worth $968,000 after buying an additional 3,151 shares in the last quarter. 19.01% of the stock is owned by institutional investors and hedge funds.

Danaos Stock Performance

Danaos stock traded down $0.05 during mid-day trading on Monday, reaching $95.41. The company's stock had a trading volume of 6,834 shares, compared to its average volume of 91,477. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 3.93 and a beta of 1.28. The business has a 50 day moving average price of $91.48 and a 200-day moving average price of $84.84. The company has a current ratio of 5.36, a quick ratio of 5.21 and a debt-to-equity ratio of 0.20. Danaos Corporation has a twelve month low of $65.40 and a twelve month high of $96.47.

Danaos (NYSE:DAC - Get Free Report) last released 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). The business had revenue of $262.15 million during the quarter, compared to analyst estimates of $247.26 million. Danaos had a return on equity of 13.88% and a net margin of 44.62%. Sell-side analysts predict that Danaos Corporation will post 29.21 EPS for the current fiscal year.

Danaos Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 19th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Danaos's payout ratio is currently 14.02%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $105.00 price target on shares of Danaos in a report on Tuesday, August 5th. Wall Street Zen cut shares of Danaos from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $105.00.

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.