Navellier & Associates Inc. Sells 482 Shares of Danaos Co. (NYSE:DAC)

Navellier & Associates Inc. trimmed its holdings in Danaos Co. (NYSE:DACGet Rating) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,285 shares of the shipping company’s stock after selling 482 shares during the quarter. Navellier & Associates Inc. owned about 0.11% of Danaos worth $1,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Claro Advisors LLC increased its stake in shares of Danaos by 46.4% in the 2nd quarter. Claro Advisors LLC now owns 3,958 shares of the shipping company’s stock worth $250,000 after acquiring an additional 1,254 shares in the last quarter. Keebeck Alpha LP purchased a new stake in Danaos during the 2nd quarter valued at about $216,000. Janney Montgomery Scott LLC grew its position in Danaos by 21.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 17,933 shares of the shipping company’s stock valued at $1,148,000 after purchasing an additional 3,156 shares during the last quarter. National Bank of Canada FI grew its position in Danaos by 318.3% during the 2nd quarter. National Bank of Canada FI now owns 18,403 shares of the shipping company’s stock valued at $1,139,000 after purchasing an additional 14,003 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Danaos by 3.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 75,613 shares of the shipping company’s stock valued at $4,771,000 after acquiring an additional 2,606 shares during the last quarter. 65.03% of the stock is currently owned by institutional investors.

Danaos Stock Performance

Shares of DAC traded up $0.42 on Thursday, reaching $57.13. The company’s stock had a trading volume of 107,909 shares, compared to its average volume of 209,961. The stock’s 50 day simple moving average is $58.12 and its two-hundred day simple moving average is $66.48. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.32 and a quick ratio of 2.26. The stock has a market capitalization of $1.18 billion, a P/E ratio of 2.06 and a beta of 1.54. Danaos Co. has a 12-month low of $52.73 and a 12-month high of $107.47.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Friday, November 18th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $3.00 annualized dividend and a yield of 5.25%. Danaos’s dividend payout ratio (DPR) is 10.81%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DAC shares. StockNews.com downgraded shares of Danaos from a “buy” rating to a “hold” rating in a report on Monday, November 7th. Citigroup dropped their price target on shares of Danaos from $85.00 to $65.00 in a report on Wednesday, November 9th.

Danaos Company Profile

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Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2022, it had a fleet of 71 containerships aggregating 436,589 twenty-foot equivalent units in capacity.

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Institutional Ownership by Quarter for Danaos (NYSE:DAC)

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