Goldman Sachs Group Inc. Acquires 29,921 Shares of Danaos Corporation $DAC

Goldman Sachs Group Inc. increased its holdings in shares of Danaos Corporation (NYSE:DAC) by 183.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,215 shares of the shipping company’s stock after purchasing an additional 29,921 shares during the period. Goldman Sachs Group Inc. owned approximately 0.24% of Danaos worth $3,606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of DAC. Northern Trust Corp raised its position in Danaos by 103.1% in the 4th quarter. Northern Trust Corp now owns 5,060 shares of the shipping company’s stock valued at $405,000 after buying an additional 2,569 shares during the last quarter. Vident Advisory LLC raised its position in Danaos by 15.7% in the 4th quarter. Vident Advisory LLC now owns 14,148 shares of the shipping company’s stock valued at $1,133,000 after buying an additional 1,917 shares during the last quarter. Voloridge Investment Management LLC raised its position in Danaos by 20.4% in the 4th quarter. Voloridge Investment Management LLC now owns 103,937 shares of the shipping company’s stock valued at $8,322,000 after buying an additional 17,643 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Danaos by 20.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,994 shares of the shipping company’s stock valued at $400,000 after buying an additional 855 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Danaos by 7,700.0% in the 1st quarter. GAMMA Investing LLC now owns 390 shares of the shipping company’s stock valued at $30,000 after buying an additional 385 shares during the last quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $105.00 target price on shares of Danaos in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Danaos presently has an average rating of “Buy” and an average target price of $105.00.

Danaos Stock Down 0.4%

NYSE:DAC opened at $94.50 on Friday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 3.90 and a beta of 1.28. Danaos Corporation has a twelve month low of $65.40 and a twelve month high of $96.47. The stock’s 50 day moving average price is $92.79 and its two-hundred day moving average price is $85.65. The company has a quick ratio of 5.21, a current ratio of 5.36 and a debt-to-equity ratio of 0.20.

Danaos (NYSE:DAC) last posted its quarterly 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). The company had revenue of $262.15 million for the quarter, compared to analyst estimates of $247.26 million. Danaos had a return on equity of 13.88% and a net margin of 44.62%. Equities research analysts expect that Danaos Corporation will post 29.21 earnings per share for the current fiscal year.

Danaos Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 19th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.6%. Danaos’s payout ratio is 14.02%.

Danaos Company 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.