Semanteon Capital Management LP Takes $413,000 Position in Danaos Co. (NYSE:DAC)

Semanteon Capital Management LP acquired a new stake in Danaos Co. (NYSE:DAC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,580 shares of the shipping company’s stock, valued at approximately $413,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Atria Wealth Solutions Inc. boosted its holdings in shares of Danaos by 4.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,911 shares of the shipping company’s stock valued at $290,000 after acquiring an additional 150 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Danaos by 45.2% in the third quarter. Signaturefd LLC now owns 524 shares of the shipping company’s stock valued at $35,000 after acquiring an additional 163 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Danaos by 14.2% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,600 shares of the shipping company’s stock valued at $118,000 after acquiring an additional 199 shares in the last quarter. Blue Trust Inc. bought a new position in shares of Danaos in the fourth quarter valued at approximately $25,000. Finally, National Bank of Canada FI boosted its holdings in shares of Danaos by 3.7% in the third quarter. National Bank of Canada FI now owns 10,203 shares of the shipping company’s stock valued at $671,000 after acquiring an additional 368 shares in the last quarter. 19.01% of the stock is currently owned by institutional investors.

Danaos Price Performance

NYSE:DAC traded up $1.45 during trading hours on Friday, reaching $75.43. 69,120 shares of the company’s stock were exchanged, compared to its average volume of 101,629. The company has a market capitalization of $1.46 billion, a P/E ratio of 2.56 and a beta of 1.30. Danaos Co. has a 12 month low of $53.89 and a 12 month high of $80.39. The company has a quick ratio of 2.84, a current ratio of 2.98 and a debt-to-equity ratio of 0.13. The business’s 50-day simple moving average is $72.13 and its two-hundred day simple moving average is $71.38.

Danaos (NYSE:DAC) last issued its earnings results on Tuesday, February 13th. The shipping company reported $6.99 earnings per share for the quarter, missing analysts’ consensus estimates of $7.70 by ($0.71). The business had revenue of $249.32 million for the quarter, compared to the consensus estimate of $254.37 million. Danaos had a return on equity of 19.94% and a net margin of 59.19%. Sell-side analysts expect that Danaos Co. will post 31.34 EPS for the current fiscal year.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 28th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date was Tuesday, February 27th. Danaos’s payout ratio is 11.05%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price objective on shares of Danaos in a report on Wednesday, February 14th.

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.