Danaos Co. (NYSE:DAC) Short Interest Update

Danaos Co. (NYSE:DACGet Rating) saw a significant decline in short interest in the month of December. As of December 30th, there was short interest totalling 676,600 shares, a decline of 8.5% from the December 15th total of 739,800 shares. Based on an average daily trading volume, of 185,000 shares, the days-to-cover ratio is presently 3.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd purchased a new position in Danaos in the fourth quarter valued at $1,937,000. Balyasny Asset Management LLC increased its stake in shares of Danaos by 16.3% during the third quarter. Balyasny Asset Management LLC now owns 507,580 shares of the shipping company’s stock worth $28,262,000 after purchasing an additional 71,016 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Danaos during the third quarter worth about $350,000. Two Sigma Advisers LP increased its stake in shares of Danaos by 4.2% during the third quarter. Two Sigma Advisers LP now owns 19,700 shares of the shipping company’s stock worth $1,097,000 after purchasing an additional 800 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Danaos during the third quarter worth about $965,000. Hedge funds and other institutional investors own 19.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on DAC. Citigroup decreased their target price on Danaos from $85.00 to $65.00 in a research report on Wednesday, November 9th. StockNews.com upgraded Danaos from a “hold” rating to a “buy” rating in a report on Thursday, November 24th.

Danaos Stock Up 0.3 %

Shares of DAC stock traded up $0.18 during trading hours on Tuesday, reaching $57.86. 33,412 shares of the company’s stock were exchanged, compared to its average volume of 124,814. Danaos has a 1 year low of $51.10 and a 1 year high of $107.47. The stock has a market cap of $1.20 billion, a PE ratio of 2.08 and a beta of 1.52. The company has a current ratio of 2.32, a quick ratio of 2.26 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average price is $54.83 and its two-hundred day moving average price is $60.70.

Danaos (NYSE:DACGet Rating) last issued its earnings results on Monday, November 7th. The shipping company reported $8.71 EPS for the quarter, beating analysts’ consensus estimates of $7.42 by $1.29. Danaos had a return on equity of 29.89% and a net margin of 59.89%. The firm had revenue of $260.04 million for the quarter, compared to analyst estimates of $232.29 million. Research analysts predict that Danaos will post 34.55 EPS for the current year.

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Friday, November 18th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $3.00 dividend on an annualized basis and a yield of 5.18%. Danaos’s payout ratio is 10.81%.

Danaos Company Profile

(Get Rating)

Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2022, it had a fleet of 71 containerships aggregating 436,589 twenty-foot equivalent units in capacity.

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