9,093 Shares in Danaos Corporation $DAC Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in shares of Danaos Corporation (NYSE:DAC) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 9,093 shares of the shipping company’s stock, valued at approximately $817,000.

A number of other institutional investors have also added to or reduced their stakes in DAC. Ion Asset Management Ltd. lifted its position in shares of Danaos by 15.5% in 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 period. Goldman Sachs Group Inc. increased its holdings in Danaos by 183.6% during the first quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company’s stock valued at $3,606,000 after buying an additional 29,921 shares during the period. Hi Line Capital Management LLC increased its holdings in Danaos by 98.6% during the third 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 during the period. JPMorgan Chase & Co. raised its stake in Danaos by 39.8% in the second quarter. JPMorgan Chase & Co. now owns 82,834 shares of the shipping company’s stock worth $7,144,000 after buying an additional 23,593 shares in the last quarter. Finally, Jump Financial LLC bought a new position in Danaos in the second quarter worth approximately $1,682,000. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Danaos Price Performance

Shares of DAC stock opened at $112.10 on Tuesday. Danaos Corporation has a fifty-two week low of $65.40 and a fifty-two week high of $118.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.23 and a current ratio of 3.28. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 4.19 and a beta of 0.98. The stock’s 50-day simple moving average is $104.16 and its 200-day simple moving average is $96.60.

Danaos (NYSE:DAC) last released its earnings results on Monday, February 9th. The shipping company reported $7.14 EPS for the quarter, topping analysts’ consensus estimates of $6.46 by $0.68. The company had revenue of $266.27 million during the quarter, compared to analysts’ expectations of $253.00 million. Danaos had a net margin of 47.45% and a return on equity of 13.31%. As a group, equities analysts forecast that Danaos Corporation will post 29.21 earnings per share for the current fiscal year.

Danaos Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, February 23rd. Danaos’s payout ratio is presently 13.44%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target 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.