Avior Wealth Management LLC Acquires 1,400 Shares of Danaos Co. (NYSE:DAC)

Avior Wealth Management LLC raised its holdings in shares of Danaos Co. (NYSE:DAC) by 297.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,870 shares of the shipping company’s stock after acquiring an additional 1,400 shares during the period. Avior Wealth Management LLC’s holdings in Danaos were worth $162,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in Danaos in the second quarter valued at about $37,000. Farther Finance Advisors LLC acquired a new stake in shares of Danaos in the 3rd quarter valued at approximately $53,000. Signaturefd LLC boosted its stake in Danaos by 21.4% during the 2nd quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after acquiring an additional 122 shares during the last quarter. Mather Group LLC. acquired a new position in Danaos during the second quarter valued at approximately $76,000. Finally, Blue Trust Inc. increased its stake in Danaos by 7,620.0% in the second quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company’s stock valued at $107,000 after purchasing an additional 1,143 shares in the last quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $105.00 price target on shares of Danaos in a report on Tuesday, November 12th. StockNews.com downgraded shares of Danaos from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th.

Danaos Trading Up 1.5 %

Shares of NYSE:DAC opened at $85.91 on Friday. The company has a 50-day simple moving average of $83.96 and a 200 day simple moving average of $85.49. The company has a market capitalization of $1.67 billion, a P/E ratio of 2.97 and a beta of 1.47. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. Danaos Co. has a 52-week low of $66.45 and a 52-week high of $98.25.

Danaos (NYSE:DAC) last posted its earnings results on Tuesday, November 12th. The shipping company reported $6.50 earnings per share for the quarter, missing analysts’ consensus estimates of $6.86 by ($0.36). Danaos had a return on equity of 16.68% and a net margin of 56.16%. The business had revenue of $256.18 million for the quarter, compared to analyst estimates of $251.16 million. During the same period in the previous year, the firm posted $7.26 earnings per share. Sell-side analysts forecast that Danaos Co. will post 27.56 earnings per share for the current year.

Danaos Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, November 25th. This is a boost from Danaos’s previous quarterly dividend of $0.80. Danaos’s dividend payout ratio (DPR) is currently 11.07%.

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.