Aristides Capital LLC Invests $246,000 in Danaos Corporation $DAC

Aristides Capital LLC purchased a new position in shares of Danaos Corporation (NYSE:DAC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,856 shares of the shipping company’s stock, valued at approximately $246,000.

Several other institutional investors also recently bought and sold shares of the company. XTX Topco Ltd raised its position in Danaos by 119.0% during the 1st quarter. XTX Topco Ltd now owns 20,207 shares of the shipping company’s stock worth $1,577,000 after buying an additional 10,981 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Danaos by 3.2% during the first quarter. National Bank of Canada FI now owns 3,914 shares of the shipping company’s stock worth $305,000 after acquiring an additional 120 shares during the period. Virtu Financial LLC purchased a new position in Danaos during the first quarter worth about $335,000. Vident Advisory LLC lifted its position in Danaos by 43.6% in the first quarter. Vident Advisory LLC now owns 20,318 shares of the shipping company’s stock valued at $1,586,000 after purchasing an additional 6,170 shares during the period. Finally, Corsair Capital Management L.P. purchased a new stake in Danaos in the 1st quarter valued at approximately $390,000. 19.01% of the stock is owned by institutional investors and hedge funds.

Danaos Trading Up 0.1%

NYSE:DAC opened at $97.17 on Thursday. Danaos Corporation has a 52-week low of $65.40 and a 52-week high of $98.42. The company has a quick ratio of 5.21, a current ratio of 5.36 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $90.64 and a 200-day simple moving average of $90.03. The company has a market capitalization of $1.85 billion, a PE ratio of 4.01 and a beta of 1.49.

Danaos (NYSE:DAC) last issued its quarterly earnings data on Monday, November 17th. The shipping company reported $6.75 EPS for the quarter, missing analysts’ consensus estimates of $7.17 by ($0.42). Danaos had a net margin of 44.62% and a return on equity of 13.88%. The business had revenue of $260.73 million during the quarter, compared to analyst estimates of $257.63 million. During the same period in the previous year, the company posted $6.50 earnings per share. On average, equities research analysts expect that Danaos Corporation will post 29.21 earnings per share for the current fiscal year.

Danaos Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Tuesday, December 2nd will be paid a dividend of $0.90 per share. This is a positive change from Danaos’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.7%. Danaos’s dividend payout ratio is 14.37%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Danaos in a research note on Wednesday, October 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target 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.