U S Global Investors Inc. Cuts Holdings in Danaos Co. (NYSE:DAC)

U S Global Investors Inc. lowered its holdings in Danaos Co. (NYSE:DAC) by 55.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,525 shares of the shipping company’s stock after selling 1,891 shares during the quarter. U S Global Investors Inc.’s holdings in Danaos were worth $122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC purchased a new position in Danaos in the 3rd quarter worth about $53,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Danaos by 37.7% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company’s stock valued at $117,000 after purchasing an additional 400 shares during the last quarter. Allworth Financial LP lifted its position in Danaos by 340.1% during the fourth quarter. Allworth Financial LP now owns 1,941 shares of the shipping company’s stock valued at $149,000 after purchasing an additional 1,500 shares during the period. Avior Wealth Management LLC lifted its position in Danaos by 297.9% during the third quarter. Avior Wealth Management LLC now owns 1,870 shares of the shipping company’s stock valued at $162,000 after purchasing an additional 1,400 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in Danaos in the third quarter worth approximately $205,000. 19.01% of the stock is owned by institutional investors.

Danaos Stock Performance

DAC opened at $79.54 on Friday. The company’s 50 day moving average is $80.15 and its 200 day moving average is $81.53. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 3.07 and a beta of 1.42. Danaos Co. has a 12-month low of $69.33 and a 12-month high of $98.25.

Danaos (NYSE:DAC) last issued its quarterly earnings results on Monday, February 10th. The shipping company reported $6.50 earnings per share for the quarter, missing the consensus estimate of $6.52 by ($0.02). Danaos had a return on equity of 16.03% and a net margin of 49.81%. On average, equities research analysts predict that Danaos Co. will post 29.21 EPS for the current year.

Danaos Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Monday, February 24th. Danaos’s payout ratio is 13.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DAC shares. Jefferies Financial Group reiterated a “buy” rating and set a $105.00 target price on shares of Danaos in a research note on Tuesday, February 11th. StockNews.com cut Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

About Danaos

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.