Danaos Co. (NYSE:DAC) Sees Large Decrease in Short Interest

Danaos Co. (NYSE:DAC) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 435,900 shares, a decline of 5.3% from the August 31st total of 460,100 shares. Based on an average daily volume of 101,300 shares, the short-interest ratio is presently 4.3 days. Currently, 4.4% of the company’s shares are sold short.

Institutional Investors Weigh In On Danaos

A number of institutional investors and hedge funds have recently made changes to their positions in DAC. Parallel Advisors LLC raised its stake in shares of Danaos by 79.3% in the 4th 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 period. Quadrature Capital Ltd increased its stake in Danaos by 6.6% during the 4th quarter. Quadrature Capital Ltd now owns 25,165 shares of the shipping company’s stock worth $1,864,000 after buying an additional 1,553 shares during the period. Clear Street Markets LLC purchased a new stake in Danaos during the 4th quarter worth approximately $96,000. Bluefin Capital Management LLC purchased a new stake in Danaos during the 4th quarter worth approximately $360,000. Finally, Scarborough Advisors LLC purchased a new stake in Danaos during the 4th quarter worth approximately $49,000. 19.01% of the stock is owned by hedge funds and other institutional investors.

Danaos Price Performance

Shares of DAC stock opened at $86.83 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.18 and a quick ratio of 4.04. The firm’s 50-day moving average is $81.99 and its two-hundred day moving average is $82.68. Danaos has a 12 month low of $62.37 and a 12 month high of $98.25. The company has a market capitalization of $1.69 billion, a PE ratio of 2.95 and a beta of 1.47.

Danaos (NYSE:DAC) last released its quarterly earnings results 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 company had revenue of $246.31 million during the quarter, compared to analysts’ expectations of $238.83 million. Danaos had a net margin of 58.15% and a return on equity of 17.88%. During the same period last year, the firm posted $7.14 earnings per share. Analysts predict that Danaos will post 28.43 earnings per share for the current year.

Danaos Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Tuesday, August 20th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Tuesday, August 20th. Danaos’s dividend payout ratio (DPR) is 10.86%.

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.