Danaos Corporation $DAC Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC raised its position in shares of Danaos Corporation (NYSE:DAC) by 206.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,815 shares of the shipping company’s stock after buying an additional 10,654 shares during the period. Lazard Asset Management LLC’s holdings in Danaos were worth $1,781,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Kestra Advisory Services LLC purchased a new stake in shares of Danaos in the 4th quarter valued at $43,000. Ascentis Independent Advisors purchased a new position in Danaos during the 1st quarter valued at about $56,000. Raymond James Financial Inc. purchased a new position in Danaos during the 2nd quarter valued at about $64,000. Tower Research Capital LLC TRC acquired a new position in Danaos in the 2nd quarter valued at about $67,000. Finally, Farther Finance Advisors LLC grew its position in Danaos by 165.0% in the 4th quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 485 shares in the last quarter. 19.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DAC shares. Weiss Ratings raised shares of Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $105.00.

Danaos Trading Up 0.3%

NYSE:DAC opened at $142.08 on Tuesday. The stock has a 50-day simple moving average of $129.53 and a 200-day simple moving average of $119.49. The stock has a market cap of $2.59 billion, a P/E ratio of 5.01 and a beta of 0.89. Danaos Corporation has a 1 year low of $83.56 and a 1 year high of $143.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.40 and a current ratio of 8.66.

Danaos (NYSE:DAC) last released its quarterly earnings data on Monday, August 3rd. The shipping company reported $7.29 EPS for the quarter, beating analysts’ consensus estimates of $6.80 by $0.49. Danaos had a return on equity of 13.18% and a net margin of 49.85%.The business had revenue of $274.37 million for the quarter, compared to the consensus estimate of $258.27 million.

Danaos Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Tuesday, July 21st were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, July 21st. Danaos’s dividend payout ratio is currently 12.70%.

About Danaos

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.