Russell Investments Group Ltd. Has $718,000 Position in Danaos Corporation $DAC

Russell Investments Group Ltd. lowered its holdings in Danaos Corporation (NYSE:DAC) by 45.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,202 shares of the shipping company’s stock after selling 7,637 shares during the quarter. Russell Investments Group Ltd.’s holdings in Danaos were worth $718,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in Danaos in the first quarter worth $335,000. National Bank of Canada FI boosted its stake in Danaos by 3.2% in the first quarter. National Bank of Canada FI now owns 3,914 shares of the shipping company’s stock worth $305,000 after purchasing an additional 120 shares in the last quarter. XTX Topco Ltd boosted its stake in Danaos by 119.0% in the first quarter. XTX Topco Ltd now owns 20,207 shares of the shipping company’s stock worth $1,577,000 after purchasing an additional 10,981 shares in the last quarter. Inspire Advisors LLC lifted its stake in shares of Danaos by 262.3% during the first quarter. Inspire Advisors LLC now owns 11,923 shares of the shipping company’s stock valued at $930,000 after acquiring an additional 8,632 shares during the period. Finally, PFG Advisors lifted its stake in shares of Danaos by 4.8% during the first quarter. PFG Advisors now owns 6,135 shares of the shipping company’s stock valued at $479,000 after acquiring an additional 279 shares during the period. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Trading Up 0.0%

NYSE:DAC opened at $91.97 on Friday. Danaos Corporation has a 1-year low of $65.40 and a 1-year high of $96.47. The business’s 50-day moving average price is $90.79 and its two-hundred day moving average price is $84.51. The company has a current ratio of 5.36, a quick ratio of 5.21 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 3.79 and a beta of 1.42.

Danaos (NYSE:DAC) last released its earnings results on Monday, August 4th. The shipping company reported $6.36 earnings per share for the quarter, missing the consensus estimate of $6.52 by ($0.16). Danaos had a net margin of 44.62% and a return on equity of 13.88%. The company had revenue of $262.15 million during the quarter, compared to analyst estimates of $247.26 million. On average, equities analysts expect that Danaos Corporation will post 29.21 earnings per share for the current year.

Danaos Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 19th were paid a $0.85 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $3.40 annualized dividend and a yield of 3.7%. Danaos’s dividend payout ratio is presently 14.02%.

Analyst Ratings Changes

DAC has been the topic of several research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $105.00 price target on shares of Danaos in a research note on Tuesday, August 5th. Wall Street Zen lowered Danaos from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $105.00.

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.