Redhawk Wealth Advisors Inc. Has $741,000 Stock Position in Danaos Co. (NYSE:DAC)

Redhawk Wealth Advisors Inc. increased its position in shares of Danaos Co. (NYSE:DAC) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,258 shares of the shipping company’s stock after acquiring an additional 485 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Danaos were worth $741,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DAC. Moors & Cabot Inc. grew its holdings in shares of Danaos by 58.7% during the second quarter. Moors & Cabot Inc. now owns 8,242 shares of the shipping company’s stock valued at $761,000 after buying an additional 3,050 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in Danaos during the 2nd quarter valued at about $443,000. Sei Investments Co. increased its holdings in shares of Danaos by 56.9% in the 2nd quarter. Sei Investments Co. now owns 32,242 shares of the shipping company’s stock valued at $2,978,000 after purchasing an additional 11,687 shares during the period. Marshall Wace LLP purchased a new stake in shares of Danaos in the second quarter worth approximately $1,250,000. Finally, Creative Planning boosted its holdings in shares of Danaos by 8.4% during the second quarter. Creative Planning now owns 8,339 shares of the shipping company’s stock worth $770,000 after purchasing an additional 644 shares during the period. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DAC shares. StockNews.com downgraded 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 objective on shares of Danaos in a report on Tuesday, November 12th.

Danaos Trading Down 2.7 %

Shares of NYSE DAC opened at $77.96 on Friday. The business has a 50 day simple moving average of $80.71 and a 200 day simple moving average of $82.69. Danaos Co. has a 52 week low of $69.33 and a 52 week high of $98.25. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 2.70 and a beta of 1.47. 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 (NYSE:DAC) last posted its earnings results 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 business had revenue of $256.18 million during the quarter, compared to the consensus estimate of $251.16 million. Danaos had a return on equity of 16.68% and a net margin of 56.16%. During the same period in the prior year, the firm earned $7.26 earnings per share. On average, research analysts predict that Danaos Co. will post 26.99 earnings per share for the current fiscal year.

Danaos Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 4.36%. This is an increase from Danaos’s previous quarterly dividend of $0.80. The ex-dividend date was Monday, November 25th. Danaos’s dividend payout ratio is presently 11.76%.

Danaos 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.