Virtu Financial LLC Makes New $335,000 Investment in Danaos Corporation $DAC

Key Points

• Virtu Financial LLC acquired a new stake in Danaos Corporation (NYSE:DAC), purchasing 4,296 shares valued at approximately $335,000 during the first quarter.
• Analysts have mixed views on Danaos; Wall Street Zen downgraded the stock from "buy" to "hold," while Jefferies Financial Group maintained a "buy" rating with a target price of $105.00.
• Danaos announced a quarterly dividend of $0.85 per share, representing a 3.7% yield, to be paid on August 28th to shareholders of record as of August 19th.

Virtu Financial LLC acquired a new position in shares of Danaos Corporation (NYSE:DAC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,296 shares of the shipping company's stock, valued at approximately $335,000.

A number of other large investors also recently modified their holdings of the business. National Bank of Canada FI boosted its stake in shares of Danaos by 3.2% during the 1st quarter. National Bank of Canada FI now owns 3,914 shares of the shipping company's stock worth $305,000 after buying an additional 120 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Danaos by 119.0% during the 1st quarter. XTX Topco Ltd now owns 20,207 shares of the shipping company's stock worth $1,577,000 after buying an additional 10,981 shares during the last quarter. Inspire Advisors LLC raised its holdings in shares of Danaos by 262.3% in the 1st quarter. Inspire Advisors LLC now owns 11,923 shares of the shipping company's stock valued at $930,000 after purchasing an additional 8,632 shares during the period. PFG Advisors lifted its position in shares of Danaos by 4.8% in the first quarter. PFG Advisors now owns 6,135 shares of the shipping company's stock valued at $479,000 after buying an additional 279 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Danaos by 256.2% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,200 shares of the shipping company's stock valued at $406,000 after buying an additional 3,740 shares during the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DAC has been the subject of a number of recent analyst reports. Wall Street Zen cut Danaos from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Jefferies Financial Group reaffirmed a "buy" rating and set a $105.00 target price on shares of Danaos in a report on Tuesday, August 5th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $105.00.

Danaos Trading Down 0.0%

Shares of Danaos stock traded down $0.04 during trading on Tuesday, hitting $93.21. The company's stock had a trading volume of 19,416 shares, compared to its average volume of 92,696. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 3.84 and a beta of 1.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.36 and a quick ratio of 5.21. The stock has a 50-day moving average price of $89.81 and a two-hundred day moving average price of $83.80. 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 announced its quarterly earnings data on Monday, August 4th. The shipping company reported $6.36 earnings per share (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 net margin of 44.62% and a return on equity of 13.88%. Equities research analysts anticipate that Danaos Corporation will post 29.21 EPS for the current fiscal year.

Danaos Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Tuesday, August 19th will be issued a $0.85 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $3.40 annualized dividend and a yield of 3.6%. Danaos's dividend payout ratio is presently 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.