Redhawk Wealth Advisors Inc. Trims Position in Danaos Co. (NYSE:DAC)

Redhawk Wealth Advisors Inc. lowered its holdings in Danaos Co. (NYSE:DAC) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,159 shares of the shipping company’s stock after selling 583 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Danaos were worth $754,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in DAC. Atria Wealth Solutions Inc. raised its stake in Danaos by 4.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,911 shares of the shipping company’s stock worth $290,000 after purchasing an additional 150 shares during the period. Parallel Advisors LLC boosted its holdings in Danaos by 79.3% in the fourth quarter. Parallel Advisors LLC now owns 382 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 169 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in Danaos by 14.2% during 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 during the period. Tidal Investments LLC increased its stake in Danaos by 3.3% during the first quarter. Tidal Investments LLC now owns 11,905 shares of the shipping company’s stock worth $860,000 after acquiring an additional 382 shares during the last quarter. Finally, Aigen Investment Management LP raised its holdings in shares of Danaos by 9.8% in the 4th quarter. Aigen Investment Management LP now owns 5,447 shares of the shipping company’s stock worth $403,000 after purchasing an additional 487 shares during the period. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Danaos Stock Up 0.3 %

Shares of DAC stock traded up $0.28 during trading hours on Thursday, reaching $82.01. The company had a trading volume of 81,729 shares, compared to its average volume of 106,463. The stock’s fifty day simple moving average is $88.04 and its 200 day simple moving average is $80.64. The company has a market capitalization of $1.59 billion, a P/E ratio of 2.78 and a beta of 1.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.75 and a current ratio of 3.89. Danaos Co. has a twelve month low of $62.37 and a twelve month high of $98.25.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Monday, August 5th. The shipping company reported $6.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.04 by ($0.26). The firm had revenue of $246.31 million for the quarter, compared to analysts’ expectations of $238.83 million. Danaos had a net margin of 59.04% and a return on equity of 18.99%. During the same quarter in the prior year, the business earned $7.14 EPS. As a group, sell-side analysts expect that Danaos Co. will post 29.24 earnings per share for the current fiscal year.

Danaos Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Tuesday, August 20th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Tuesday, August 20th. Danaos’s dividend payout ratio (DPR) is 10.86%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lifted their target price on shares of Danaos from $90.00 to $105.00 and gave the company a “buy” rating in a report 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.