Free Trial

Virtu Financial LLC Makes New Investment in Danaos Corporation (NYSE:DAC)

Danaos logo with Transportation background

Virtu Financial LLC acquired a new stake in Danaos Corporation (NYSE:DAC - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 4,296 shares of the shipping company's stock, valued at approximately $335,000.

Several other institutional investors also recently made changes to their positions in DAC. LPL Financial LLC raised its stake in 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 purchasing an additional 637 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 acquiring an additional 21,430 shares in the last quarter. Wells Fargo & Company MN grew its position in Danaos by 31.5% in the fourth quarter. Wells Fargo & Company MN now owns 28,382 shares of the shipping company's stock valued at $2,273,000 after acquiring an additional 6,804 shares in the last quarter. XTX Topco Ltd grew its position in shares of Danaos by 128.1% during the fourth quarter. XTX Topco Ltd now owns 9,226 shares of the shipping company's stock worth $739,000 after buying an additional 5,182 shares in the last quarter. Finally, Advisory Research Inc. grew its position in shares of Danaos by 0.9% during the fourth quarter. Advisory Research Inc. now owns 23,116 shares of the shipping company's stock worth $1,851,000 after buying an additional 207 shares in the last quarter. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DAC shares. Wall Street Zen cut Danaos from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Jefferies Financial Group reissued a "buy" rating and set a $105.00 price target on shares of Danaos in a report on Tuesday, August 5th.

Check Out Our Latest Stock Report on Danaos

Danaos Trading Down 0.8%

Shares of DAC opened at $93.21 on Friday. Danaos Corporation has a 1-year low of $65.40 and a 1-year high of $96.47. The stock has a market capitalization of $1.77 billion, a P/E ratio of 3.84 and a beta of 1.42. The company has a current ratio of 5.36, a quick ratio of 5.21 and a debt-to-equity ratio of 0.20. The business's 50-day moving average price is $89.54 and its 200 day moving average price is $83.53.

Danaos (NYSE:DAC - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The shipping company reported $6.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $247.26 million. Analysts expect that Danaos Corporation will post 29.21 earnings per share for the current year.

Danaos Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Tuesday, August 19th will be given a dividend of $0.85 per share. The ex-dividend date is Tuesday, August 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.6%. Danaos's payout ratio is currently 14.02%.

Danaos Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Danaos (NYSE:DAC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Danaos Right Now?

Before you consider Danaos, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Danaos wasn't on the list.

While Danaos currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Ten Starter Stocks For Beginners to Buy Now Cover

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Stocks With Explosive Upside
September Slowdown: 3 Stocks to Buy When the Pullback Comes
3 Overlooked Stocks Riding the AI Data Center Boom

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines