Danaos Corporation (NYSE:DAC) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd increased its position in Danaos Corporation (NYSE:DAC - Free Report) by 119.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,207 shares of the shipping company's stock after acquiring 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 SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in Danaos by 7,700.0% during the 1st quarter. GAMMA Investing LLC now owns 390 shares of the shipping company's stock valued at $30,000 after buying an additional 385 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Danaos during the 4th quarter worth $87,000. Malaga Cove Capital LLC purchased a new position in shares of Danaos during the 4th quarter worth $288,000. Millburn Ridgefield LLC DE purchased a new position in shares of Danaos during the 1st quarter worth $293,000. Finally, LPL Financial LLC lifted its stake in shares of Danaos by 19.0% during 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 period. Institutional investors and hedge funds own 19.01% of the company's stock.

Danaos Trading Down 0.6%

Shares of Danaos stock traded down $0.58 during trading hours on Friday, reaching $91.23. 56,820 shares of the company's stock were exchanged, compared to its average volume of 64,740. The company has a current ratio of 4.34, a quick ratio of 4.18 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 3.74 and a beta of 1.42. The company has a fifty day moving average of $87.75 and a 200-day moving average of $82.45. Danaos Corporation has a 52-week low of $65.40 and a 52-week high of $94.00.

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

Danaos Dividend Announcement

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

Danaos declared that its Board of Directors has authorized a stock repurchase program on Monday, April 14th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the shipping company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

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.