Moors & Cabot Inc. Has $541,000 Stake in Danaos Co. (NYSE:DAC)

Moors & Cabot Inc. lowered its holdings in Danaos Co. (NYSE:DAC) by 24.3% in the third quarter, HoldingsChannel.com reports. The firm owned 6,242 shares of the shipping company’s stock after selling 2,000 shares during the quarter. Moors & Cabot Inc.’s holdings in Danaos were worth $541,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Avior Wealth Management LLC boosted its stake in shares of Danaos by 297.9% in the third quarter. Avior Wealth Management LLC now owns 1,870 shares of the shipping company’s stock valued at $162,000 after buying an additional 1,400 shares during the period. Chesapeake Capital Corp IL raised its holdings in Danaos by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 5,712 shares of the shipping company’s stock valued at $491,000 after acquiring an additional 1,246 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Danaos during the 3rd quarter valued at $935,000. CWA Asset Management Group LLC acquired a new stake in shares of Danaos during the 3rd quarter worth $445,000. Finally, Janney Montgomery Scott LLC increased its position in shares of Danaos by 2.9% in the third quarter. Janney Montgomery Scott LLC now owns 26,908 shares of the shipping company’s stock worth $2,334,000 after purchasing an additional 766 shares during the period. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Trading Up 1.5 %

Shares of DAC opened at $85.90 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. Danaos Co. has a 52-week low of $66.45 and a 52-week high of $98.25. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 2.97 and a beta of 1.47. The business’s fifty day moving average is $83.82 and its 200-day moving average is $85.44.

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

Danaos Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 25th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.96%. This is a boost from Danaos’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, November 25th. Danaos’s dividend payout ratio is currently 11.76%.

Analyst Ratings Changes

DAC has been the subject of several recent analyst reports. StockNews.com cut shares of Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Jefferies Financial Group reiterated a “buy” rating and set a $105.00 price target on shares of Danaos 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.