Danaos Co. (NYSE:DAC) Short Interest Update

Danaos Co. (NYSE:DAC) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 404,400 shares, a decrease of 7.8% from the June 30th total of 438,800 shares. Based on an average daily volume of 110,200 shares, the short-interest ratio is presently 3.7 days. Currently, 4.1% of the shares of the stock are sold short.

Institutional Trading of Danaos

Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in Danaos by 41.3% during the 1st quarter. Acadian Asset Management LLC now owns 591,001 shares of the shipping company’s stock worth $42,647,000 after acquiring an additional 172,832 shares during the last quarter. Significant Wealth Partners LLC increased its stake in shares of Danaos by 1,048.0% during the 1st quarter. Significant Wealth Partners LLC now owns 43,798 shares of the shipping company’s stock worth $3,162,000 after purchasing an additional 39,983 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Danaos in the 1st quarter valued at about $1,484,000. TrueMark Investments LLC bought a new stake in Danaos in the second quarter valued at approximately $1,734,000. Finally, Chesapeake Capital Corp IL acquired a new stake in Danaos during the 4th quarter valued at $940,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Trading Down 3.0 %

Shares of NYSE:DAC traded down $2.59 during midday trading on Thursday, hitting $83.90. The company had a trading volume of 108,434 shares, compared to its average volume of 105,881. The company has a current ratio of 3.89, a quick ratio of 3.75 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 2.85 and a beta of 1.51. The firm has a fifty day simple moving average of $90.24 and a 200 day simple moving average of $80.27. Danaos has a 12 month low of $62.37 and a 12 month high of $98.25.

Danaos (NYSE:DAC) last posted its earnings results on Tuesday, May 28th. The shipping company reported $7.15 earnings per share for the quarter, missing the consensus estimate of $7.71 by ($0.56). Danaos had a return on equity of 18.99% and a net margin of 59.04%. The firm had revenue of $253.45 million during the quarter. During the same quarter in the previous year, the business posted $7.14 EPS. On average, analysts predict that Danaos will post 29.24 EPS for the current year.

Danaos Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 11th were issued a dividend of $0.80 per share. The ex-dividend date was Tuesday, June 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.81%. Danaos’s payout ratio is 10.86%.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised their target price on Danaos from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th.

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.