Marnell Management LLC Makes New Investment in Danaos Corporation $DAC

Marnell Management LLC bought a new position in shares of Danaos Corporation (NYSE:DAC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,119 shares of the shipping company’s stock, valued at approximately $670,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Aristides Capital LLC lifted its stake in Danaos by 4.1% during the third quarter. Aristides Capital LLC now owns 2,972 shares of the shipping company’s stock worth $267,000 after purchasing an additional 116 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Danaos by 3.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,671 shares of the shipping company’s stock worth $440,000 after purchasing an additional 165 shares during the last quarter. R Squared Ltd lifted its stake in Danaos by 12.0% during the fourth quarter. R Squared Ltd now owns 2,824 shares of the shipping company’s stock worth $266,000 after purchasing an additional 303 shares during the last quarter. State Street Corp lifted its stake in Danaos by 2.4% during the fourth quarter. State Street Corp now owns 15,761 shares of the shipping company’s stock worth $1,484,000 after purchasing an additional 372 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Danaos during the fourth quarter worth $43,000. 19.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DAC. Weiss Ratings upgraded shares of Danaos from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, May 6th. Fearnley Fonds upgraded shares of Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Freedom Capital upgraded shares of Danaos to a “hold” rating in a report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Danaos currently has an average rating of “Buy” and an average target price of $105.00.

Danaos Stock Up 0.3%

Shares of NYSE:DAC opened at $131.64 on Monday. The company has a fifty day moving average of $124.90 and a 200-day moving average of $110.91. The company has a market capitalization of $2.40 billion, a PE ratio of 4.64 and a beta of 0.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.40 and a current ratio of 8.66. Danaos Corporation has a 52-week low of $83.56 and a 52-week high of $135.21.

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

Danaos Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, May 26th were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, May 26th. This represents a $3.60 annualized dividend and a dividend yield of 2.7%. Danaos’s dividend payout ratio is 12.70%.

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.