XTX Topco Ltd Increases Stock Holdings in Danaos Co. (NYSE:DAC)

XTX Topco Ltd boosted its position in shares of Danaos Co. (NYSE:DAC - Free Report) by 128.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,226 shares of the shipping company's stock after purchasing an additional 5,182 shares during the period. XTX Topco Ltd's holdings in Danaos were worth $739,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Aristides Capital LLC grew its holdings in Danaos by 55.2% during the 4th quarter. Aristides Capital LLC now owns 4,068 shares of the shipping company's stock valued at $326,000 after purchasing an additional 1,447 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of 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 purchasing an additional 6,804 shares during the period. Summit Securities Group LLC bought a new position in Danaos in the fourth quarter worth approximately $32,000. Arrowstreet Capital Limited Partnership increased its holdings in Danaos by 18.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 314,787 shares of the shipping company's stock worth $25,205,000 after purchasing an additional 48,155 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Danaos during the 4th quarter valued at $87,000. 19.01% of the stock is currently owned by institutional investors.

Danaos Stock Up 4.5 %

NYSE DAC traded up $3.42 on Wednesday, reaching $79.47. 61,306 shares of the stock traded hands, compared to its average volume of 105,914. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 3.07 and a beta of 1.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. Danaos Co. has a 12 month low of $65.40 and a 12 month high of $98.25. The company has a fifty day moving average price of $78.30 and a 200-day moving average price of $80.14.

Danaos (NYSE:DAC - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.52 by ($0.02). Danaos had a return on equity of 16.03% and a net margin of 49.81%. As a group, research analysts forecast that Danaos Co. will post 29.21 EPS for the current fiscal year.

Danaos declared that its Board of Directors has authorized a stock buyback program on Monday, April 14th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the shipping company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Danaos Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend was Monday, February 24th. Danaos's payout ratio is 13.12%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com raised Danaos from a "hold" rating to a "buy" rating in a research report on Monday, March 10th. Jefferies Financial Group reaffirmed a "buy" rating and set a $105.00 target price on shares of Danaos in a research report on Tuesday, February 11th.

About Danaos

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.