Vanguard Personalized Indexing Management LLC Takes Position in Danaos Corporation $DAC

Vanguard Personalized Indexing Management LLC purchased a new stake in Danaos Corporation (NYSE:DAC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,578 shares of the shipping company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new position in shares of Danaos in the 1st quarter valued at $223,000. National Bank of Canada FI increased its stake in shares of Danaos by 3.2% in the 1st quarter. National Bank of Canada FI now owns 3,914 shares of the shipping company’s stock valued at $305,000 after purchasing an additional 120 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Danaos in the 1st quarter valued at $335,000. Corsair Capital Management L.P. bought a new position in shares of Danaos in the 1st quarter valued at $390,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in Danaos during the 2nd quarter worth $400,000. Institutional investors own 19.01% of the company’s stock.

Danaos Stock Up 0.2%

Shares of NYSE:DAC opened at $87.48 on Friday. The business’s 50-day moving average is $90.83 and its 200-day moving average is $87.57. Danaos Corporation has a 1 year low of $65.40 and a 1 year high of $96.47. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.36 and a quick ratio of 5.21. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 3.61 and a beta of 1.45.

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 analysts’ consensus estimates of $6.52 by ($0.16). Danaos had a return on equity of 13.88% and a net margin of 44.62%.The firm had revenue of $262.15 million for the quarter, compared to analyst estimates of $247.26 million. Equities research analysts predict that Danaos Corporation will post 29.21 earnings per share for the current year.

Danaos Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Tuesday, August 19th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, August 19th. Danaos’s dividend payout ratio is 14.02%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DAC. Jefferies Financial Group restated a “buy” rating and set a $105.00 price objective on shares of Danaos in a research report on Tuesday, August 5th. Weiss Ratings restated a “buy (b)” rating on shares of Danaos in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $105.00.

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.