Commonwealth Equity Services LLC Increases Stock Holdings in Danaos Co. (NYSE:DAC)

Posted by on Mar 9th, 2023

Commonwealth Equity Services LLC grew its holdings in shares of Danaos Co. (NYSE:DAC – Get Rating) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,500 shares of the shipping company’s stock after purchasing an additional 1,887 shares during the period. Commonwealth Equity Services LLC owned about 0.37% of Danaos worth $4,315,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Atlas Capital Advisors LLC acquired a new stake in Danaos in the 3rd quarter valued at about $30,000. Quadrant Capital Group LLC grew its holdings in Danaos by 197.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 722 shares of the shipping company’s stock worth $40,000 after acquiring an additional 479 shares in the last quarter. Credit Suisse AG acquired a new position in Danaos during the 2nd quarter worth approximately $45,000. Edmond DE Rothschild Holding S.A. increased its position in shares of Danaos by 431.6% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 1,414 shares of the shipping company’s stock valued at $89,000 after purchasing an additional 1,148 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in shares of Danaos in the 1st quarter valued at $125,000. Institutional investors and hedge funds own 19.41% of the company’s stock.

Danaos Trading Down 0.6 %

DAC opened at $57.14 on Thursday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 2.10 and a beta of 1.58. Danaos Co. has a 52 week low of $51.10 and a 52 week high of $107.47. The business’s 50 day moving average is $57.58 and its two-hundred day moving average is $58.44. The company has a quick ratio of 2.26, a current ratio of 2.32 and a debt-to-equity ratio of 0.34.

Danaos Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 14th. Investors of record on Tuesday, February 28th will be given a $0.75 dividend. The ex-dividend date is Monday, February 27th. This represents a $3.00 annualized dividend and a yield of 5.25%. Danaos’s dividend payout ratio (DPR) is 11.02%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DAC. Citigroup decreased their target price on Danaos from $85.00 to $65.00 in a research note on Wednesday, November 9th. StockNews.com raised shares of Danaos from a “hold” rating to a “buy” rating in a research report on Thursday, November 24th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price target on shares of Danaos in a research report on Wednesday, February 15th.

Danaos Company Profile

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Danaos Corp. engages in the provision of marine and seaborne transportation services. It offers services by operating vessels in the containership sector of the shipping industry. The company was founded by Dimitris Coustas in1972 and is headquartered in Piraeus, Greece.

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Institutional Ownership by Quarter for Danaos (NYSE:DAC)

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