Chesapeake Capital Corp IL Buys 1,246 Shares of Danaos Co. (NYSE:DAC)

Chesapeake Capital Corp IL raised its stake in Danaos Co. (NYSE:DAC) by 27.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,712 shares of the shipping company’s stock after acquiring an additional 1,246 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Danaos were worth $491,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. nVerses Capital LLC bought a new stake in shares of Danaos during the second quarter worth about $37,000. Farther Finance Advisors LLC acquired a new stake in shares of Danaos in the 3rd quarter worth about $53,000. Signaturefd LLC raised its holdings in shares of Danaos by 21.4% in the 2nd quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after acquiring an additional 122 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Danaos in the 2nd quarter worth about $76,000. Finally, Blue Trust Inc. raised its holdings in shares of Danaos by 7,620.0% in the 2nd quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company’s stock worth $107,000 after acquiring an additional 1,143 shares during the last quarter. 19.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on DAC. Jefferies Financial Group restated a “buy” rating and issued a $105.00 target price on shares of Danaos in a report on Tuesday, November 12th. StockNews.com lowered shares of Danaos from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th.

Danaos Trading Down 0.2 %

NYSE:DAC opened at $85.76 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 3.93. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 2.97 and a beta of 1.47. Danaos Co. has a 52 week low of $66.45 and a 52 week high of $98.25. The firm has a 50-day moving average price of $83.16 and a two-hundred day moving average price of $85.20.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.86 by ($0.36). The firm had revenue of $256.18 million during the quarter, compared to analysts’ expectations of $251.16 million. Danaos had a net margin of 56.16% and a return on equity of 16.68%. During the same quarter last year, the business posted $7.26 EPS. On average, equities analysts expect that Danaos Co. will post 27.56 earnings per share for the current fiscal year.

Danaos Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th will be paid a $0.85 dividend. This is a positive change from Danaos’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, November 25th. This represents a $3.40 annualized dividend and a yield of 3.96%. Danaos’s dividend payout ratio (DPR) is 11.07%.

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.