Vident Advisory LLC Buys 1,917 Shares of Danaos Co. (NYSE:DAC)

Vident Advisory LLC grew its stake in Danaos Co. (NYSE:DAC) by 15.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,148 shares of the shipping company’s stock after purchasing an additional 1,917 shares during the quarter. Vident Advisory LLC owned about 0.07% of Danaos worth $1,133,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DAC. Ballentine Partners LLC raised its holdings in Danaos by 18.1% in the 4th quarter. Ballentine Partners LLC now owns 3,053 shares of the shipping company’s stock worth $244,000 after purchasing an additional 467 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of Danaos by 24.1% in the 4th quarter. Avior Wealth Management LLC now owns 2,321 shares of the shipping company’s stock worth $186,000 after acquiring an additional 451 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Danaos by 37.7% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company’s stock worth $117,000 after acquiring an additional 400 shares in the last quarter. DGS Capital Management LLC increased its stake in shares of Danaos by 71.6% in the 4th quarter. DGS Capital Management LLC now owns 23,945 shares of the shipping company’s stock worth $1,917,000 after acquiring an additional 9,994 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Danaos by 49.8% in the 4th quarter. Blue Trust Inc. now owns 5,573 shares of the shipping company’s stock worth $483,000 after acquiring an additional 1,853 shares in the last quarter. 19.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on DAC. Wall Street Zen lowered shares of Danaos from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Jefferies Financial Group increased their price target on shares of Danaos from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th.

Danaos Stock Up 1.0%

Shares of Danaos stock opened at $84.48 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78. The company has a 50-day moving average of $79.30 and a 200 day moving average of $80.10. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 3.26 and a beta of 1.34. Danaos Co. has a 1 year low of $65.40 and a 1 year high of $98.25.

Danaos (NYSE:DAC) last announced its quarterly earnings data on Tuesday, May 13th. The shipping company reported $6.04 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.29). The firm had revenue of $253.31 million for the quarter, compared to analysts’ expectations of $242.00 million. Danaos had a net margin of 49.81% and a return on equity of 16.03%. During the same period last year, the company posted $7.15 earnings per share. As a group, sell-side analysts anticipate that Danaos Co. will post 29.21 earnings per share for the current fiscal year.

Danaos Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.85 per share. The ex-dividend date is Tuesday, May 27th. This represents a $3.40 dividend on an annualized basis and a yield of 4.02%. Danaos’s dividend payout ratio is currently 13.96%.

Danaos announced that its board has authorized a share repurchase plan on Monday, April 14th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the shipping company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Danaos 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.