Atria Wealth Solutions Inc. Boosts Stock Position in Danaos Co. (NYSE:DAC)

Atria Wealth Solutions Inc. boosted its position in shares of Danaos Co. (NYSE:DAC) by 4.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,911 shares of the shipping company’s stock after acquiring an additional 150 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Danaos were worth $290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DAC. Acadian Asset Management LLC raised its stake in shares of Danaos by 23.2% in the third quarter. Acadian Asset Management LLC now owns 386,855 shares of the shipping company’s stock valued at $25,600,000 after acquiring an additional 72,910 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Danaos by 3.1% in the 3rd quarter. Lazard Asset Management LLC now owns 87,538 shares of the shipping company’s stock valued at $5,796,000 after buying an additional 2,645 shares during the period. Foundry Partners LLC acquired a new position in shares of Danaos during the third quarter worth about $5,471,000. Qube Research & Technologies Ltd increased its stake in shares of Danaos by 100.4% during the third quarter. Qube Research & Technologies Ltd now owns 45,854 shares of the shipping company’s stock worth $3,036,000 after buying an additional 22,970 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Danaos in the third quarter valued at approximately $1,711,000. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price target on shares of Danaos in a report on Wednesday, February 14th.

Danaos Stock Up 1.2 %

Danaos stock opened at $81.08 on Thursday. The stock’s fifty day moving average is $73.15 and its two-hundred day moving average is $72.14. The stock has a market cap of $1.57 billion, a PE ratio of 2.80 and a beta of 1.30. Danaos Co. has a 1-year low of $55.71 and a 1-year high of $81.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.98 and a quick ratio of 2.84.

Danaos (NYSE:DAC) last issued its earnings results on Tuesday, February 13th. The shipping company reported $6.99 earnings per share for the quarter, missing the consensus estimate of $7.70 by ($0.71). The business had revenue of $249.32 million for the quarter, compared to analyst estimates of $254.37 million. Danaos had a return on equity of 19.94% and a net margin of 59.19%. On average, sell-side analysts expect that Danaos Co. will post 31.34 EPS for the current fiscal year.

Danaos Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 28th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Tuesday, February 27th. Danaos’s dividend payout ratio (DPR) is 11.05%.

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.