Renaissance Technologies LLC Has $9.44 Million Holdings in Danaos Corporation $DAC

Renaissance Technologies LLC lifted its holdings in shares of Danaos Corporation (NYSE:DAC) by 117.1% in the 1st quarter, HoldingsChannel reports. The fund owned 83,800 shares of the shipping company’s stock after purchasing an additional 45,200 shares during the period. Renaissance Technologies LLC’s holdings in Danaos were worth $9,439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DAC. Ion Asset Management Ltd. increased its stake in shares of 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 purchasing an additional 87,614 shares during the last quarter. ION Fund Management Ltd purchased a new position in Danaos in the fourth quarter worth $39,538,000. Millennium Management LLC increased its holdings in shares of Danaos by 161.8% in the third quarter. Millennium Management LLC now owns 133,401 shares of the shipping company’s stock worth $11,981,000 after buying an additional 82,450 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Danaos by 13.8% during the fourth quarter. JPMorgan Chase & Co. now owns 111,750 shares of the shipping company’s stock valued at $10,525,000 after acquiring an additional 13,571 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of 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 buying an additional 38,958 shares in the last quarter. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on DAC shares. Weiss Ratings upgraded Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. Fearnley Fonds upgraded shares of Danaos from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $105.00.

Danaos Stock Down 0.2%

NYSE DAC opened at $141.29 on Monday. Danaos Corporation has a 52 week low of $83.56 and a 52 week high of $143.48. The company has a quick ratio of 8.40, a current ratio of 8.66 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.57 billion, a P/E ratio of 4.98 and a beta of 0.89. The stock’s 50-day moving average price is $129.30 and its 200-day moving average price is $119.19.

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

Danaos Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Tuesday, July 21st were paid a dividend of $0.90 per share. The ex-dividend date was Tuesday, July 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.5%. Danaos’s payout ratio is 12.70%.

About Danaos

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.