U S Global Investors Inc. Boosts Stake in Danaos Corporation $DAC

U S Global Investors Inc. lifted its stake in shares of Danaos Corporation (NYSE:DAC) by 195.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,418 shares of the shipping company’s stock after buying an additional 4,249 shares during the period. U S Global Investors Inc.’s holdings in Danaos were worth $723,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. ION Fund Management Ltd purchased a new position in Danaos in the 4th quarter worth $39,538,000. Ion Asset Management Ltd. lifted its position in Danaos by 15.5% during the 2nd quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock worth $56,428,000 after acquiring an additional 87,614 shares during the period. Millennium Management LLC grew its stake in Danaos by 161.8% during the 3rd quarter. Millennium Management LLC now owns 133,401 shares of the shipping company’s stock valued at $11,981,000 after purchasing an additional 82,450 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Danaos by 58.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 106,089 shares of the shipping company’s stock valued at $9,991,000 after purchasing an additional 38,958 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Danaos during the 3rd quarter valued at about $2,541,000. 19.01% of the stock is owned by hedge funds and other institutional investors.

Danaos Stock Performance

Shares of NYSE:DAC traded up $0.68 during midday trading on Friday, reaching $128.01. The company’s stock had a trading volume of 89,213 shares, compared to its average volume of 79,697. The firm has a market capitalization of $2.33 billion, a PE ratio of 4.52 and a beta of 0.89. Danaos Corporation has a twelve month low of $83.56 and a twelve month high of $135.21. The stock has a fifty day moving average of $128.27 and a 200 day moving average of $114.98. The company has a quick ratio of 8.40, a current ratio of 8.66 and a debt-to-equity ratio of 0.26.

Danaos (NYSE:DAC) last posted its earnings results on Monday, May 11th. The shipping company reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.86 by $0.86. Danaos had a net margin of 49.85% and a return on equity of 13.18%. The company had revenue of $253.70 million during the quarter, compared to the consensus estimate of $242.20 million.

Danaos Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Tuesday, July 21st will be paid a dividend of $0.90 per share. The ex-dividend date is Tuesday, July 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.8%. Danaos’s dividend payout ratio (DPR) is presently 12.70%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DAC. Weiss Ratings cut Danaos from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Fearnley Fonds raised Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $105.00.

Danaos Profile

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.