Danaos Co. (NYSE:DAC) Sees Large Decrease in Short Interest

Danaos Co. (NYSE:DAC) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 435,900 shares, a drop of 5.3% from the August 31st total of 460,100 shares. Based on an average daily volume of 101,300 shares, the days-to-cover ratio is presently 4.3 days. Approximately 4.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On Danaos

A number of institutional investors and hedge funds have recently bought and sold shares of DAC. Acadian Asset Management LLC boosted its position in Danaos by 33.5% during the second quarter. Acadian Asset Management LLC now owns 788,905 shares of the shipping company’s stock worth $72,823,000 after acquiring an additional 197,904 shares during the last quarter. Gordian Capital Singapore Pte Ltd boosted its position in Danaos by 17,600,000.0% during the second quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock worth $16,255,000 after acquiring an additional 176,000 shares during the last quarter. Significant Wealth Partners LLC boosted its position in Danaos by 1,048.0% during the first quarter. Significant Wealth Partners LLC now owns 43,798 shares of the shipping company’s stock worth $3,162,000 after acquiring an additional 39,983 shares during the last quarter. Sei Investments Co. acquired a new position in Danaos during the first quarter worth about $1,484,000. Finally, TrueMark Investments LLC acquired a new position in Danaos during the second quarter worth about $1,734,000. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Danaos Stock Up 0.1 %

Shares of NYSE DAC opened at $86.83 on Wednesday. The company’s 50-day simple moving average is $81.99 and its 200-day simple moving average is $82.68. Danaos has a 52-week low of $62.37 and a 52-week high of $98.25. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 2.95 and a beta of 1.47. The company has a quick ratio of 4.04, a current ratio of 4.18 and a debt-to-equity ratio of 0.17.

Danaos (NYSE:DAC) last announced its earnings results on Monday, August 5th. The shipping company reported $6.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.04 by ($0.26). Danaos had a net margin of 58.15% and a return on equity of 17.88%. The company had revenue of $246.31 million during the quarter, compared to analyst estimates of $238.83 million. During the same quarter last year, the business earned $7.14 EPS. Equities analysts predict that Danaos will post 28.43 EPS for the current fiscal year.

Danaos Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Tuesday, August 20th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $3.20 dividend on an annualized basis and a yield of 3.69%. Danaos’s payout ratio is presently 10.86%.

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.