Tidal Investments LLC Sells 131 Shares of Danaos Co. (NYSE:DAC)

Tidal Investments LLC lessened its holdings in Danaos Co. (NYSE:DAC) by 0.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 14,157 shares of the shipping company’s stock after selling 131 shares during the quarter. Tidal Investments LLC’s holdings in Danaos were worth $1,228,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its holdings in shares of Danaos by 33.5% in the 2nd quarter. Acadian Asset Management LLC now owns 788,905 shares of the shipping company’s stock valued at $72,823,000 after acquiring an additional 197,904 shares in the last quarter. Gordian Capital Singapore Pte Ltd raised its stake in Danaos by 17,600,000.0% in the second quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock valued at $16,255,000 after purchasing an additional 176,000 shares in the last quarter. Sei Investments Co. lifted its position in Danaos by 56.9% during the second quarter. Sei Investments Co. now owns 32,242 shares of the shipping company’s stock valued at $2,978,000 after purchasing an additional 11,687 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Danaos by 2.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 26,908 shares of the shipping company’s stock worth $2,334,000 after buying an additional 766 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Danaos by 2.3% in the 3rd quarter. State Street Corp now owns 24,098 shares of the shipping company’s stock worth $2,090,000 after buying an additional 547 shares during the last quarter. Institutional investors own 19.01% of the company’s stock.

Danaos Stock Down 0.5 %

Shares of NYSE DAC opened at $76.93 on Thursday. The stock has a market capitalization of $1.49 billion, a P/E ratio of 2.66 and a beta of 1.49. Danaos Co. has a one year low of $69.33 and a one year high of $98.25. The firm’s 50 day simple moving average is $82.30 and its two-hundred day simple moving average is $84.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78.

Danaos (NYSE:DAC) last released its earnings results on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.86 by ($0.36). Danaos had a net margin of 56.16% and a return on equity of 16.68%. The business had revenue of $256.18 million for the quarter, compared to the consensus estimate of $251.16 million. During the same period in the prior year, the business posted $7.26 EPS. As a group, analysts expect that Danaos Co. will post 27.56 EPS for the current fiscal year.

Danaos Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 25th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, November 25th. This is a positive change from Danaos’s previous quarterly dividend of $0.80. Danaos’s payout ratio is 11.76%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DAC. StockNews.com downgraded shares of Danaos from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a $105.00 price target on shares of Danaos in a research note on Tuesday, November 12th.

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.