Short Interest in Danaos Corporation (NYSE:DAC) Expands By 14.6%

Danaos Corporation (NYSE:DAC) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 435,572 shares, a growth of 14.6% from the March 31st total of 380,166 shares. Based on an average daily volume of 71,471 shares, the short-interest ratio is presently 6.1 days. Currently, 4.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Danaos

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in Danaos by 18.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,179 shares of the shipping company’s stock valued at $8,817,000 after buying an additional 15,345 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Danaos in the 3rd quarter valued at about $817,000. Hi Line Capital Management LLC grew its position in Danaos by 98.6% in the 3rd quarter. Hi Line Capital Management LLC now owns 57,133 shares of the shipping company’s stock valued at $5,131,000 after buying an additional 28,365 shares in the last quarter. Shikiar Asset Management Inc. bought a new position in Danaos in the 4th quarter valued at about $603,000. Finally, Advisory Research Inc. grew its position in Danaos by 5.2% in the 3rd quarter. Advisory Research Inc. now owns 38,727 shares of the shipping company’s stock valued at $3,478,000 after buying an additional 1,912 shares in the last quarter. Institutional investors own 19.01% of the company’s stock.

Danaos Stock Up 0.2%

Danaos stock opened at $120.01 on Friday. The company has a 50-day simple moving average of $114.60 and a 200-day simple moving average of $102.64. The firm has a market capitalization of $2.18 billion, a P/E ratio of 4.48 and a beta of 0.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.23 and a current ratio of 3.28. Danaos has a one year low of $79.48 and a one year high of $123.93.

Danaos (NYSE:DAC) last released its quarterly earnings results on Monday, February 9th. The shipping company reported $7.14 EPS for the quarter, topping the consensus estimate of $6.46 by $0.68. The business had revenue of $266.27 million during the quarter, compared to analyst estimates of $253.00 million. Danaos had a net margin of 47.45% and a return on equity of 13.31%.

Danaos Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, February 23rd. Danaos’s dividend payout ratio is currently 13.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a research report on Wednesday, January 21st. Freedom Capital raised shares of Danaos to a “hold” rating in a report on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Danaos presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

Danaos Company 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.