Aristides Capital LLC Buys 1,447 Shares of Danaos Co. (NYSE:DAC)

Aristides Capital LLC increased its stake in shares of Danaos Co. (NYSE:DAC) by 55.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,068 shares of the shipping company’s stock after purchasing an additional 1,447 shares during the quarter. Aristides Capital LLC’s holdings in Danaos were worth $326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Danaos by 18.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 314,787 shares of the shipping company’s stock valued at $25,205,000 after acquiring an additional 48,155 shares in the last quarter. TrueMark Investments LLC raised its position in Danaos by 252.9% in the fourth quarter. TrueMark Investments LLC now owns 65,485 shares of the shipping company’s stock valued at $5,243,000 after purchasing an additional 46,930 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Danaos by 71.8% during the fourth quarter. JPMorgan Chase & Co. now owns 51,291 shares of the shipping company’s stock valued at $4,107,000 after purchasing an additional 21,430 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Danaos by 12.8% during the fourth quarter. Sei Investments Co. now owns 32,629 shares of the shipping company’s stock worth $2,613,000 after purchasing an additional 3,696 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Danaos by 31.5% in the fourth quarter. Wells Fargo & Company MN now owns 28,382 shares of the shipping company’s stock valued at $2,273,000 after buying an additional 6,804 shares during the period. Institutional investors own 19.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DAC. StockNews.com raised shares of Danaos from a “hold” rating to a “buy” rating in a report on Monday, March 10th. Jefferies Financial Group restated a “buy” rating and issued a $105.00 price objective on shares of Danaos in a report on Tuesday, February 11th.

Danaos Stock Down 6.0 %

Danaos stock opened at $69.15 on Monday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 2.67 and a beta of 1.32. Danaos Co. has a 52-week low of $67.00 and a 52-week high of $98.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. The firm has a 50 day moving average price of $80.25 and a two-hundred day moving average price of $81.26.

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

Danaos Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.85 per share. The ex-dividend date was Monday, February 24th. This represents a $3.40 annualized dividend and a yield of 4.92%. Danaos’s dividend payout ratio is currently 13.12%.

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.