XTX Topco Ltd Has $1.58 Million Stock Position in Danaos Corporation (NYSE:DAC)

Key Points

• XTX Topco Ltd increased its stake in Danaos Corporation by 119.0%, owning approximately 20,207 shares valued at $1.58 million as of the latest SEC filing.
• Danaos Corporation's recent quarterly earnings report showed an EPS of $6.04, which was below analyst expectations of $6.33, despite revenue surpassing estimates at $253.31 million.
• The company declared a quarterly dividend of $0.85, yielding 3.7%, and approved a $100 million stock buyback program to potentially enhance shareholder value.

XTX Topco Ltd boosted its holdings in shares of Danaos Corporation (NYSE:DAC - Free Report) by 119.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,207 shares of the shipping company's stock after buying an additional 10,981 shares during the period. XTX Topco Ltd owned approximately 0.11% of Danaos worth $1,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in Danaos by 7,700.0% in the 1st quarter. GAMMA Investing LLC now owns 390 shares of the shipping company's stock worth $30,000 after purchasing an additional 385 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Danaos in the 4th quarter worth about $87,000. Malaga Cove Capital LLC acquired a new position in Danaos in the 4th quarter worth about $288,000. Millburn Ridgefield LLC DE acquired a new position in Danaos in the 1st quarter worth about $293,000. Finally, LPL Financial LLC increased its position in Danaos by 19.0% in the 4th quarter. LPL Financial LLC now owns 3,995 shares of the shipping company's stock worth $320,000 after purchasing an additional 637 shares during the last quarter. 19.01% of the stock is owned by institutional investors and hedge funds.

Danaos Stock Performance

NYSE:DAC traded up $0.86 during mid-day trading on Monday, hitting $92.07. 18,329 shares of the company's stock traded hands, compared to its average volume of 94,546. The firm has a 50 day moving average of $87.88 and a two-hundred day moving average of $82.58. Danaos Corporation has a 12 month low of $65.40 and a 12 month high of $94.00. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 3.78 and a beta of 1.42. The company has a current ratio of 4.34, a quick ratio of 4.18 and a debt-to-equity ratio of 0.21.

Danaos (NYSE:DAC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The shipping company reported $6.04 EPS for the quarter, missing analysts' consensus estimates of $6.33 by ($0.29). Danaos had a return on equity of 14.66% and a net margin of 46.33%. The firm had revenue of $253.31 million during the quarter, compared to the consensus estimate of $242.00 million. During the same quarter in the prior year, the business posted $7.15 EPS. On average, equities analysts forecast that Danaos Corporation will post 29.21 earnings per share for the current fiscal year.

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

Danaos Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Tuesday, May 27th were given a $0.85 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.7%. Danaos's dividend payout ratio (DPR) is currently 13.96%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DAC. Jefferies Financial Group upped their target price on Danaos from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Wall Street Zen lowered Danaos from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th.

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.