Y Intercept Hong Kong Ltd Takes Position in Danaos Corporation $DAC

Y Intercept Hong Kong Ltd purchased a new stake in shares of Danaos Corporation (NYSE:DAC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,057 shares of the shipping company’s stock, valued at approximately $264,000.

A number of other institutional investors have also recently added to or reduced their stakes in DAC. National Bank of Canada FI increased its holdings in Danaos by 3.2% in the first quarter. National Bank of Canada FI now owns 3,914 shares of the shipping company’s stock valued at $305,000 after purchasing an additional 120 shares during the period. Redhawk Wealth Advisors Inc. raised its position in shares of Danaos by 1.5% during the second quarter. Redhawk Wealth Advisors Inc. now owns 12,594 shares of the shipping company’s stock worth $1,086,000 after acquiring an additional 185 shares during the last quarter. PFG Advisors lifted its stake in shares of Danaos by 4.8% in the first quarter. PFG Advisors now owns 6,135 shares of the shipping company’s stock worth $479,000 after acquiring an additional 279 shares during the period. Morgan Dempsey Capital Management LLC boosted its holdings in Danaos by 41.7% in the second quarter. Morgan Dempsey Capital Management LLC now owns 4,564 shares of the shipping company’s stock valued at $394,000 after acquiring an additional 1,343 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Danaos during the 2nd quarter valued at approximately $222,000. 19.01% of the stock is owned by institutional investors.

Danaos Trading Down 0.4%

Shares of DAC opened at $92.04 on Friday. The business’s 50-day moving average price is $90.44 and its 200-day moving average price is $88.76. The company has a quick ratio of 5.21, a current ratio of 5.36 and a debt-to-equity ratio of 0.20. Danaos Corporation has a twelve month low of $65.40 and a twelve month high of $96.47. The stock has a market cap of $1.75 billion, a PE ratio of 3.80 and a beta of 1.49.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DAC. Jefferies Financial Group reissued a “buy” rating and issued a $105.00 price target on shares of Danaos in a research report on Tuesday, August 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Danaos in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Danaos has an average rating of “Buy” and an average target price of $105.00.

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.